Salesforce, Inc. (NYSE:CRM) Stock Holdings Increased by Milestone Asset Management LLC

Milestone Asset Management LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 22.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,921 shares of the CRM provider’s stock after acquiring an additional 708 shares during the period. Milestone Asset Management LLC’s holdings in Salesforce were worth $1,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its holdings in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc acquired a new stake in shares of Salesforce in the third quarter valued at $1,215,000. Prime Capital Investment Advisors LLC lifted its holdings in shares of Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after buying an additional 6,938 shares during the period. Aljian Capital Management LLC lifted its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares during the period. Finally, AIA Group Ltd lifted its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Canaccord Genuity Group upped their target price on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. The Goldman Sachs Group upped their target price on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. Finally, Morgan Stanley upped their target price on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Down 1.6 %

Shares of CRM stock opened at $354.14 on Thursday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s 50-day moving average is $337.96 and its 200-day moving average is $296.02. The stock has a market cap of $338.91 billion, a price-to-earnings ratio of 58.25, a PEG ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 analyst estimates of $9.35 billion. During the same quarter last year, the company posted $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.45%. Salesforce’s payout ratio is presently 26.32%.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 1,785 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the transaction, the insider now owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,109,169 shares of company stock worth $383,432,020 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.