Salesforce, Inc. (NYSE:CRM) Shares Acquired by Merit Financial Group LLC

Merit Financial Group LLC lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 62.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,581 shares of the CRM provider's stock after purchasing an additional 7,499 shares during the period. Merit Financial Group LLC's holdings in Salesforce were worth $6,547,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter worth approximately $33,000. Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC increased its holdings in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider's stock worth $38,000 after acquiring an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce during the third quarter worth $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company's stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $34,229,213.48. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now owns 969 shares of the company's stock, valued at approximately $280,767.75. The trade was a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. 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 note on Wednesday, December 4th. TD Cowen raised shares of Salesforce from a "hold" rating to a "buy" rating and upped their target price for the stock from $380.00 to $400.00 in a report on Friday. Erste Group Bank raised Salesforce from a "hold" rating to a "buy" rating in a report on Tuesday, November 19th. JMP Securities reaffirmed a "market outperform" rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Northland Capmk upgraded shares of Salesforce from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $377.63.

Salesforce Stock Performance

Salesforce stock traded up $4.77 during trading hours on Friday, reaching $324.77. 6,283,814 shares of the stock were exchanged, compared to its average volume of 4,604,853. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The stock has a market cap of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm's 50 day moving average is $337.31 and its 200 day moving average is $291.80.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings results 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts' expectations of $9.35 billion. During the same period in the prior year, the company earned $1.62 earnings per share. The company's revenue for the quarter was up 8.3% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio is presently 26.32%.

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.