Unique Wealth LLC Raises Position in Salesforce, Inc. (NYSE:CRM)

Unique Wealth LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 12.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,839 shares of the CRM provider’s stock after buying an additional 867 shares during the period. Unique Wealth LLC’s holdings in Salesforce were worth $2,621,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Marion Wealth Management boosted its holdings in Salesforce by 18.2% during the 4th quarter. Marion Wealth Management now owns 1,070 shares of the CRM provider’s stock valued at $358,000 after acquiring an additional 165 shares during the period. Parisi Gray Wealth Management boosted its stake in shares of Salesforce by 11.5% during the fourth quarter. Parisi Gray Wealth Management now owns 1,415 shares of the CRM provider’s stock valued at $473,000 after purchasing an additional 146 shares during the period. Miracle Mile Advisors LLC boosted its stake in shares of Salesforce by 0.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 19,342 shares of the CRM provider’s stock valued at $6,466,000 after purchasing an additional 142 shares during the period. Northstar Advisory Group LLC grew its holdings in shares of Salesforce by 7.2% in the fourth quarter. Northstar Advisory Group LLC now owns 10,001 shares of the CRM provider’s stock worth $3,344,000 after purchasing an additional 673 shares during the last quarter. Finally, Sunflower Bank N.A. raised its holdings in Salesforce by 3.5% during the 4th quarter. Sunflower Bank N.A. now owns 2,871 shares of the CRM provider’s stock valued at $960,000 after buying an additional 96 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CRM. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. BMO Capital Markets boosted their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Wells Fargo & Company boosted their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Finally, Jefferies Financial Group raised their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the sale, the insider now owns 19,116 shares of the company’s stock, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,177,617 shares of company stock worth $403,542,975. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.5 %

NYSE:CRM opened at $319.39 on Tuesday. The company has a 50 day simple moving average of $336.25 and a two-hundred day simple moving average of $290.19. The company has a market cap of $305.66 billion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 EPS. Research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

About Salesforce

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together worldwide. The company's service includes sales to store data, monitor leads and progress, forecast opportunities, gain insights through analytics and artificial intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer support at scale.