SeaCrest Wealth Management LLC Has $3.99 Million Stake in Salesforce, Inc. (NYSE:CRM)

SeaCrest Wealth Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,918 shares of the CRM provider’s stock after purchasing an additional 280 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Salesforce were worth $3,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter worth $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 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 last quarter. Annapolis Financial Services LLC grew its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce in the 3rd quarter valued at about $53,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CRM. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Bank of America upped their price objective on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets lifted their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. One equities research 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 data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Salesforce Price Performance

Shares of NYSE CRM opened at $323.31 on Wednesday. The firm has a market capitalization of $309.41 billion, a P/E ratio of 53.18, a P/E/G ratio of 3.20 and a beta of 1.30. 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 stock’s 50-day simple moving average is $336.76 and its two-hundred day simple moving average is $290.66. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last announced its 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 during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the business earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred 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. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock valued at $403,542,975 over the last 90 days. 3.20% of the stock is owned by insiders.

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.