Salesforce, Inc. (NYSE:CRM) Shares Bought by Milestone Asset Management LLC

Milestone Asset Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 22.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,921 shares of the CRM provider's stock after purchasing an additional 708 shares during the period. Milestone Asset Management LLC's holdings in Salesforce were worth $1,311,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter worth approximately $33,000. Godsey & Gibb Inc. raised its stake 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 in the last quarter. Annapolis Financial Services LLC raised 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 purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Needham & Company LLC boosted their target price on Salesforce from $375.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, January 8th. Wells Fargo & Company upped their target price on Salesforce from $275.00 to $330.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 12th. KeyCorp upgraded shares of Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Finally, Scotiabank lifted their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued 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 a consensus price target of $377.63.

Salesforce Stock Performance

Shares of CRM stock traded down $9.12 on Thursday, reaching $344.88. The stock had a trading volume of 5,061,051 shares, compared to its average volume of 6,202,275. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a 50 day simple moving average of $338.53 and a 200 day simple moving average of $296.43. 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 stock has a market cap of $330.05 billion, a P/E ratio of 56.79, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.

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

Salesforce Announces Dividend

The company also recently declared 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 dividend yield of 0.46%. Salesforce's dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 3.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,109,169 shares of company stock worth $383,432,020. 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.