Avion Wealth Has $65,000 Position in Salesforce, Inc. (NYSE:CRM)

Avion Wealth grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 106.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 196 shares of the CRM provider’s stock after acquiring an additional 101 shares during the period. Avion Wealth’s holdings in Salesforce were worth $65,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. State Street Corp grew its stake in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC grew its stake in shares of Salesforce by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares during the period. Fisher Asset Management LLC grew its stake in shares of Salesforce by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after buying an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after buying an additional 96,381 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 0.8 %

Salesforce stock opened at $324.50 on Wednesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market capitalization of $310.55 billion, a price-to-earnings ratio of 53.37, a P/E/G ratio of 2.66 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day simple moving average of $338.89 and a 200 day simple moving average of $301.53.

Salesforce (NYSE:CRM) last released 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). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. On average, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Scotiabank raised their price target on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Northland Securities reaffirmed an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Citigroup raised their price target on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research 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 assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,705,195. This represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock worth $384,366,700 in the last three months. Corporate insiders own 3.20% of the company’s stock.

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.