Panoramic Capital Partners LLC Acquires New Stake in Salesforce, Inc. (NYSE:CRM)

Panoramic Capital Partners LLC purchased a new position in Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 666 shares of the CRM provider’s stock, valued at approximately $223,000.

Several other institutional investors and hedge funds also recently bought and sold shares of CRM. RBA Wealth Management LLC lifted its position in shares of Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after acquiring an additional 574 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Salesforce by 20.3% in the third quarter. Sound Income Strategies LLC now owns 639 shares of the CRM provider’s stock valued at $175,000 after purchasing an additional 108 shares in the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in shares of Salesforce by 155.4% in the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 116,004 shares of the CRM provider’s stock worth $31,751,000 after buying an additional 70,580 shares during the last quarter. Thomasville National Bank raised its position in Salesforce by 1.4% during the third quarter. Thomasville National Bank now owns 101,071 shares of the CRM provider’s stock valued at $27,664,000 after purchasing an additional 1,347 shares during the period. Finally, Paladin Wealth LLC purchased a new stake in Salesforce during the 3rd quarter valued at $159,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.3 %

CRM stock opened at $326.95 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market capitalization of $312.89 billion, a P/E ratio of 53.77, a P/E/G ratio of 2.66 and a beta of 1.31. The firm has a 50-day simple moving average of $338.97 and a 200-day simple moving average of $301.03.

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

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio is presently 26.32%.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of Salesforce 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 completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Northland Securities reissued an “outperform” rating and issued a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Oppenheimer reaffirmed an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, Canaccord Genuity Group raised their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce 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.