Private Wealth Partners LLC Has $5.33 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Private Wealth Partners LLC increased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,941 shares of the CRM provider's stock after purchasing an additional 1,223 shares during the period. Private Wealth Partners LLC's holdings in Salesforce were worth $5,330,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. State Street Corp raised its position in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised its position 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 worth $5,395,132,000 after purchasing an additional 257,501 shares in the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 2.6% in 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 purchasing an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock worth $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Salesforce by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider's stock worth $1,618,407,000 after purchasing an additional 96,381 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 7,057 shares of the company's stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,833 shares of company stock valued at $381,389,136 in the last quarter. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on CRM shares. Stifel Nicolaus increased their price target on shares of Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Oppenheimer reissued an "outperform" rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Royal Bank of Canada raised their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, Loop Capital lowered their price target on shares of Salesforce from $360.00 to $330.00 and set a "hold" rating for the company in a report on Wednesday. One 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 issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average price target of $375.53.

Salesforce Stock Down 3.2 %

CRM stock traded down $10.05 during midday trading on Friday, hitting $308.38. The company's stock had a trading volume of 4,883,390 shares, compared to its average volume of 6,167,824. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company's fifty day moving average price is $334.23 and its 200 day moving average price is $304.76. The stock has a market capitalization of $295.12 billion, a P/E ratio of 50.72, a PEG ratio of 2.63 and a beta of 1.31.

Salesforce (NYSE:CRM - Get Free Report) last issued 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). 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 EPS 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 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 26.32%.

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.