Salesforce, Inc. (NYSE:CRM) Stock Holdings Lifted by Diversify Wealth Management LLC

Diversify Wealth Management LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 44.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 23,680 shares of the CRM provider's stock after purchasing an additional 7,335 shares during the quarter. Diversify Wealth Management LLC's holdings in Salesforce were worth $7,527,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in shares of Salesforce by 14.5% in the 2nd quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider's stock worth $24,734,000 after purchasing an additional 12,193 shares during the period. Kowal Investment Group LLC purchased a new position in Salesforce in the second quarter valued at approximately $215,000. Profund Advisors LLC raised its holdings in Salesforce by 5.2% in the second quarter. Profund Advisors LLC now owns 41,754 shares of the CRM provider's stock valued at $10,735,000 after buying an additional 2,053 shares during the period. ProShare Advisors LLC lifted its position in Salesforce by 8.7% during the second quarter. ProShare Advisors LLC now owns 296,331 shares of the CRM provider's stock valued at $76,187,000 after buying an additional 23,750 shares in the last quarter. Finally, Holderness Investments Co. grew its stake in Salesforce by 22.1% during the second quarter. Holderness Investments Co. now owns 2,373 shares of the CRM provider's stock worth $610,000 after buying an additional 430 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. DA Davidson lifted their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. Oppenheimer reaffirmed an "outperform" rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on Salesforce from $275.00 to $330.00 and gave the company an "equal weight" rating in a report on Tuesday, November 12th. Bank of America upped their price target on Salesforce from $390.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Finally, Guggenheim cut shares of Salesforce from a "neutral" rating to a "sell" rating and set a $247.00 target price on the stock. in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $377.63.

Salesforce Stock Performance

NYSE CRM traded up $4.77 on Monday, hitting $324.77. The stock had a trading volume of 6,283,814 shares, compared to its average volume of 4,604,853. The company's 50-day moving average is $337.31 and its two-hundred day moving average is $292.02. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last posted 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). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 earnings per share. On average, analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's payout ratio is currently 26.32%.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now owns 45,861 shares in the company, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 in the last 90 days. 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.