Oak Ridge Investments LLC Takes $683,000 Position in Salesforce, Inc. (NYSE:CRM)

Oak Ridge Investments LLC purchased a new position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,044 shares of the CRM provider's stock, valued at approximately $683,000.

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

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 6,161 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the transaction, the chief operating officer now owns 969 shares in the company, valued at approximately $280,767.75. This trade represents a 86.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 in the last quarter. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on CRM. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. DA Davidson increased their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Jefferies Financial Group lifted their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Citigroup upped their price objective 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. Finally, Morgan Stanley lifted their target price on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One research 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $377.63.

Salesforce Stock Performance

NYSE CRM traded up $4.77 on Monday, hitting $324.77. 6,283,814 shares of the stock were exchanged, compared to its average volume of 4,604,853. The company has a market capitalization of $310.81 billion, a PE 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 current ratio of 1.11 and a quick ratio of 1.11. The business's fifty day moving average is $337.31 and its 200 day moving average is $292.02. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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 the consensus estimate of $2.44 by ($0.03). The firm 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 company's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.62 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. 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 (DPR) 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.