Tranquilli Financial Advisor LLC Makes New $241,000 Investment in Salesforce, Inc. (NYSE:CRM)

Tranquilli Financial Advisor LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 720 shares of the CRM provider’s stock, valued at approximately $241,000.

A number of other hedge funds also recently bought and sold shares of CRM. Czech National Bank boosted its stake in Salesforce by 6.7% during the 3rd quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock valued at $54,029,000 after purchasing an additional 12,314 shares during the last quarter. RBA Wealth Management LLC lifted its holdings in shares of Salesforce by 3.7% during the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Salesforce by 46.8% during the third quarter. GAMMA Investing LLC now owns 10,328 shares of the CRM provider’s stock valued at $2,827,000 after buying an additional 3,292 shares during the last quarter. Herbst Group LLC raised its position in Salesforce by 5.2% in the 3rd quarter. Herbst Group LLC now owns 10,110 shares of the CRM provider’s stock worth $2,767,000 after buying an additional 500 shares during the last quarter. Finally, WealthBridge Capital Management LLC bought a new position in Salesforce during the 3rd quarter valued at about $219,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the firm’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 $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,104,699 shares of company stock worth $382,108,847. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 1.6 %

NYSE:CRM opened at $344.57 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a 50-day moving average of $338.67 and a 200 day moving average of $297.99. The firm has a market cap of $329.76 billion, a PE ratio of 56.52, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 EPS. As a group, research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. DA Davidson increased their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Macquarie reissued a “neutral” rating and set a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company boosted their target price on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.