Salesforce, Inc. (NYSE:CRM) Shares Purchased by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 114.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,265 shares of the CRM provider's stock after acquiring an additional 2,807 shares during the period. Castle Rock Wealth Management LLC's holdings in Salesforce were worth $1,719,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CRM. Foundations Investment Advisors LLC boosted its position in shares of Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider's stock valued at $12,194,000 after buying an additional 4,752 shares during the period. Athena Investment Management purchased a new position in Salesforce during the 4th quarter valued at $236,000. Highland Capital Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $4,321,000. Jag Capital Management LLC lifted its holdings in Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after buying an additional 22,797 shares in the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in Salesforce in the 4th quarter valued at about $2,861,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Cantor Fitzgerald started coverage on Salesforce in a report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target for the company. Stifel Nicolaus lowered their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday. Stephens began coverage on Salesforce in a report on Wednesday, March 19th. They issued an "equal weight" rating and a $311.00 price objective for the company. Finally, Oppenheimer dropped their target price on shares of Salesforce from $415.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $348.59.

Salesforce Price Performance

NYSE:CRM traded down $2.12 during trading hours on Wednesday, reaching $275.07. 12,346,453 shares of the company were exchanged, compared to its average volume of 6,949,522. The stock's 50-day moving average is $268.29 and its 200-day moving average is $306.00. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market cap of $264.45 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.54 by $0.04. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. During the same period in the previous year, the business posted $2.44 EPS. The company's revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were issued a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

Insiders Place Their Bets

In related news, Director Robin L. Washington purchased 1,695 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $294.61 per share, with a total value of $499,363.95. Following the completion of the acquisition, the director now owns 43,445 shares in the company, valued at $12,799,331.45. This trade represents a 4.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $301.00, for a total transaction of $1,872,521.00. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $14,071,750. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,553 shares of company stock valued at $12,897,323 in the last 90 days. 3.20% of the stock is owned by insiders.

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.