TigerOak Management L.L.C. Purchases New Position in Salesforce, Inc. (NYSE:CRM)

TigerOak Management L.L.C. purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, Holdings Channel reports. The fund purchased 1,320 shares of the CRM provider’s stock, valued at approximately $441,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Puff Wealth Management LLC bought a new position in Salesforce during the 4th quarter valued at about $289,000. Montag A & Associates Inc. raised its stake in shares of Salesforce by 3.5% in the fourth quarter. Montag A & Associates Inc. now owns 2,248 shares of the CRM provider’s stock worth $752,000 after acquiring an additional 75 shares during the last quarter. Congress Asset Management Co. raised its stake in shares of Salesforce by 5.5% in the fourth quarter. Congress Asset Management Co. now owns 316,677 shares of the CRM provider’s stock worth $105,875,000 after acquiring an additional 16,435 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Salesforce in the fourth quarter worth about $1,052,000. Finally, Hickory Asset Management Inc. bought a new position in shares of Salesforce in the fourth quarter worth about $492,000. 80.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction 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. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CRM shares. Bank of America boosted their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, UBS Group lifted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Stock Performance

Shares of CRM stock opened at $325.49 on Friday. The company’s fifty day simple moving average is $336.56 and its 200-day simple moving average is $302.79. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $311.49 billion, a PE ratio of 53.53, a P/E/G ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last announced 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business 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 firm earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts expect 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. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) 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.