RPG Investment Advisory LLC Acquires 46 Shares of Salesforce, Inc. (NYSE:CRM)

RPG Investment Advisory LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,147 shares of the CRM provider’s stock after buying an additional 46 shares during the period. Salesforce makes up about 1.7% of RPG Investment Advisory LLC’s holdings, making the stock its 20th largest holding. RPG Investment Advisory LLC’s holdings in Salesforce were worth $12,754,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter valued at $27,000. Arlington Trust Co LLC boosted its stake in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter valued at $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 2.8 %

Shares of NYSE:CRM opened at $309.54 on Monday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50-day moving average price of $333.34 and a 200 day moving average price of $306.18. The company has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce 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 completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,114 shares of company stock valued at $381,142,656 over the last 90 days. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research note on Friday, December 13th. Scotiabank lifted their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. BMO Capital Markets dropped their price target on Salesforce from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Citigroup lifted their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

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.