666 Shares in Salesforce, Inc. (NYSE:CRM) Acquired by Panoramic Capital Partners LLC

Panoramic Capital Partners LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 666 shares of the CRM provider’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently made changes to their positions in CRM. Veritas Asset Management LLP purchased a new position in Salesforce in the third quarter worth $733,805,000. Jennison Associates LLC boosted its holdings in shares of Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares in the last quarter. Swedbank AB increased its position in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. KBC Group NV raised its holdings 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 buying an additional 1,032,068 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in 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 buying an additional 998,628 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of CRM opened at $326.95 on Tuesday. 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 has a market cap of $312.89 billion, a P/E ratio of 53.77, a P/E/G ratio of 2.66 and a beta of 1.31. The business’s 50 day moving average price is $338.97 and its 200-day moving average price is $301.03. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last released its 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm posted $1.62 earnings per share. The company’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued 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%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on CRM shares. DA Davidson increased their price target on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Cfra set a $343.00 target price on Salesforce in a report on Thursday, October 17th. Finally, BMO Capital Markets boosted their price objective on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,111,420 shares of company stock worth $384,366,700. 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.