SeaCrest Wealth Management LLC Buys 280 Shares of Salesforce, Inc. (NYSE:CRM)

SeaCrest Wealth Management LLC lifted its position in Salesforce, Inc. (NYSE:CRM) by 2.4% during the 4th quarter, Holdings Channel reports. The firm owned 11,918 shares of the CRM provider’s stock after acquiring an additional 280 shares during the period. SeaCrest Wealth Management LLC’s holdings in Salesforce were worth $3,985,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the second quarter valued at about $33,000. Godsey & Gibb Inc. boosted its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Annapolis Financial Services LLC grew its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Salesforce during the 3rd quarter valued at about $53,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $323.31 on Wednesday. The stock has a market capitalization of $309.41 billion, a PE ratio of 53.18, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The stock’s 50 day simple moving average is $336.76 and its 200 day simple moving average is $290.66. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 0.49%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Macquarie reissued a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Insider Buying and Selling

In other news, COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total value of $1,785,149.75. Following the transaction, the chief operating officer now directly owns 969 shares in the company, valued at $280,767.75. This trade represents a 86.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total value of $1,213,044.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,229,213.48. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,617 shares of company stock worth $403,542,975. 3.20% of the stock is owned by insiders.

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.