633 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Harbor Group Inc.

Harbor Group Inc. purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 633 shares of the CRM provider’s stock, valued at approximately $212,000.

A number of other large investors have also recently made changes to their positions in CRM. Veritas Asset Management LLP purchased a new stake in shares of Salesforce during the 3rd quarter valued at about $733,805,000. KBC Group NV grew its position in shares of Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. International Assets Investment Management LLC increased its stake in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares in the last quarter. Farallon Capital Management LLC raised its holdings in Salesforce by 51.0% in the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after purchasing an additional 994,670 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after purchasing an additional 877,495 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CRM. Scotiabank upped their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Robert W. Baird increased their price objective on shares of Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Citigroup lifted their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. TD Cowen increased their price target on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Finally, KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective on the stock in a research report on Friday, December 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

Salesforce Stock Performance

CRM stock opened at $320.99 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business has a 50-day moving average price of $337.05 and a 200 day moving average price of $290.87. The company has a market capitalization of $307.18 billion, a P/E ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. 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 posted 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). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 in the last three months. 3.20% of the stock is owned by insiders.

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.