Blodgett Wealth Advisors LLC Acquires 425 Shares of Salesforce, Inc. (NYSE:CRM)

Blodgett Wealth Advisors LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 16.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,052 shares of the CRM provider’s stock after buying an additional 425 shares during the quarter. Salesforce makes up approximately 0.8% of Blodgett Wealth Advisors LLC’s holdings, making the stock its 22nd largest holding. Blodgett Wealth Advisors LLC’s holdings in Salesforce were worth $1,021,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the 3rd quarter worth about $27,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its position in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new position in Salesforce in the third quarter valued at approximately $53,000. Finally, Friedenthal Financial bought a new stake in shares of Salesforce during the fourth quarter worth $55,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on CRM shares. BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Barclays boosted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Robert W. Baird upped their target price on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 708 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at $411,694.92. The trade was a 36.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,104,699 shares of company stock valued at $382,108,847. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.7 %

NYSE:CRM opened at $339.28 on Tuesday. The firm’s 50 day moving average is $338.67 and its 200 day moving average is $297.99. 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. The stock has a market capitalization of $324.69 billion, a PE ratio of 55.80, a price-to-earnings-growth ratio of 3.09 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the company earned $1.62 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

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.