Account Management LLC Invests $255,000 in Salesforce, Inc. (NYSE:CRM)

Account Management LLC bought a new position in shares of Salesforce, Inc. (NYSE:CRM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 970 shares of the CRM provider’s stock, valued at approximately $255,000. Salesforce comprises about 0.3% of Account Management LLC’s investment portfolio, making the stock its 22nd largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. Graypoint LLC boosted its stake in Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC boosted its stake in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after acquiring an additional 37 shares in the last quarter. Prentice Wealth Management LLC boosted its stake in Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after acquiring an additional 38 shares in the last quarter. MV Capital Management Inc. boosted its stake in Salesforce by 3.9% in the fourth quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after acquiring an additional 39 shares in the last quarter. Finally, Beaumont Asset Management L.L.C. boosted its stake in Salesforce by 0.4% in the fourth quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock valued at $2,342,000 after acquiring an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Stifel Nicolaus restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Oppenheimer increased their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, Argus increased their target price on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Price Performance

Shares of CRM stock traded up $1.15 during midday trading on Friday, reaching $274.29. 3,754,585 shares of the company traded hands, compared to its average volume of 5,162,527. The firm’s 50 day simple moving average is $295.97 and its two-hundred day simple moving average is $264.30. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 7,075 shares of Salesforce stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now directly owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock worth $182,177,918 in the last ninety days. Insiders own 3.70% of the company’s stock.

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.