633 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Harbor Group Inc.

Harbor Group Inc. acquired a new stake in Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 633 shares of the CRM provider’s stock, valued at approximately $212,000.

A number of other hedge funds have also modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC grew its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in Salesforce in the third quarter valued at approximately $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM opened at $320.99 on Friday. The firm has a market cap of $307.18 billion, a price-to-earnings ratio of 52.79, a PEG ratio of 2.87 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. The stock’s 50-day moving average price is $337.05 and its 200 day moving average price is $290.87. 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 the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during 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 company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.62 EPS. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. 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 (DPR) is presently 26.32%.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 in the last three months. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CRM shares. Wells Fargo & Company raised their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. UBS Group raised their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Bank of America increased their price target on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Company Profile

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.