Tanager Wealth Management LLP Makes New Investment in Salesforce, Inc. (NYSE:CRM)

Tanager Wealth Management LLP acquired a new position in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 690 shares of the CRM provider’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Czech National Bank lifted its position in shares of Salesforce by 6.7% during the third quarter. Czech National Bank now owns 197,395 shares of the CRM provider’s stock worth $54,029,000 after purchasing an additional 12,314 shares during the last quarter. RBA Wealth Management LLC lifted its position 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 worth $4,426,000 after purchasing an additional 574 shares during the last quarter. WealthBridge Capital Management LLC bought a new stake in shares of Salesforce during the third quarter worth $219,000. Greenfield Savings Bank bought a new stake in shares of Salesforce during the third quarter worth $379,000. Finally, Aprio Wealth Management LLC lifted its position in shares of Salesforce by 26.3% during the third quarter. Aprio Wealth Management LLC now owns 2,907 shares of the CRM provider’s stock worth $796,000 after purchasing an additional 606 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of CRM opened at $344.07 on Wednesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market cap of $329.28 billion, a PE ratio of 56.59, a P/E/G ratio of 3.09 and a beta of 1.31. The firm has a 50-day simple moving average of $338.67 and a two-hundred day simple moving average of $298.64. 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 (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 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Cfra set a $343.00 price objective on Salesforce in a report on Thursday, October 17th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, DA Davidson lifted their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.