11,071 Shares in Salesforce, Inc. (NYSE:CRM) Purchased by Accuvest Global Advisors

Accuvest Global Advisors acquired a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,071 shares of the CRM provider's stock, valued at approximately $3,732,000. Salesforce makes up 5.2% of Accuvest Global Advisors' portfolio, making the stock its 10th biggest position.

A number of other large investors have also made changes to their positions in the stock. State Street Corp raised its holdings in 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 acquiring an additional 864,193 shares during the last quarter. Geode Capital Management LLC increased its stake in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock valued at $5,395,132,000 after purchasing an additional 257,501 shares during the last quarter. Fisher Asset Management LLC lifted its position in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider's stock worth $3,360,215,000 after buying an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in 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 worth $1,632,599,000 after buying an additional 57,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in 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. Institutional investors and hedge funds own 80.43% of the company's stock.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 719 shares of the firm's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company's stock, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,833 shares of company stock valued at $381,389,136 over the last three months. Company insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of Salesforce stock traded down $8.89 during trading hours on Friday, reaching $309.54. The company's stock had a trading volume of 7,341,387 shares, compared to its average volume of 6,249,096. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company's 50 day simple moving average is $333.34 and its 200 day simple moving average is $305.25. The stock has a market cap of $296.23 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The business 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 business's revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.62 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid 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 yield of 0.52%. Salesforce's payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an "outperform" rating in a report on Wednesday, December 4th. Jefferies Financial Group increased their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 6th. Erste Group Bank raised Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Finally, Redburn Atlantic assumed coverage on Salesforce in a report on Wednesday. They issued a "buy" rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $375.53.

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.