Scissortail Wealth Management LLC Invests $978,000 in Salesforce, Inc. (NYSE:CRM)

Scissortail Wealth Management LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,399 shares of the CRM provider's stock, valued at approximately $978,000.

A number of other hedge funds have also recently bought and sold shares of CRM. Walkner Condon Financial Advisors LLC raised its position in shares of Salesforce by 2.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider's stock worth $534,000 after purchasing an additional 74 shares during the period. Pure Financial Advisors LLC acquired a new stake in Salesforce during the 4th quarter worth about $214,000. Riversedge Advisors LLC lifted its stake in Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider's stock valued at $477,000 after buying an additional 420 shares in the last quarter. CHURCHILL MANAGEMENT Corp acquired a new position in shares of Salesforce in the third quarter worth about $2,499,000. Finally, Lone Pine Capital LLC increased its position in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider's stock worth $506,875,000 after acquiring an additional 804,634 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on CRM. Bank of America increased their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a "buy" rating in a research report on Thursday, February 29th. JMP Securities reissued a "market outperform" rating and set a $342.00 target price on shares of Salesforce in a research note on Monday. Wells Fargo & Company upped their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 21st. Citigroup lifted their price objective on Salesforce from $265.00 to $325.00 and gave the company a "neutral" rating in a research report on Monday, February 26th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $365.00 target price on shares of Salesforce in a research report on Tuesday. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $307.87.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company's stock in a transaction on Friday, April 12th. The stock was sold at an average price of $295.74, for a total value of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares of the company's stock, valued at approximately $3,823,539,948.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,928,721 shares in the company, valued at $3,823,539,948.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the business's stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now directly owns 2,869 shares of the company's stock, valued at approximately $799,618.99. The disclosure for this sale can be found here. Insiders have sold a total of 897,375 shares of company stock valued at $260,206,096 in the last three months. 3.70% of the stock is currently owned by company insiders.

Salesforce Trading Up 1.7 %

NYSE:CRM traded up $4.51 on Tuesday, hitting $277.41. 7,609,935 shares of the stock were exchanged, compared to its average volume of 5,727,201. The company's 50-day moving average price is $298.52 and its 200 day moving average price is $260.26. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The stock has a market capitalization of $269.09 billion, a price-to-earnings ratio of 66.40, a P/E/G ratio of 2.26 and a beta of 1.28.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The firm's revenue for the quarter was up 10.8% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce's dividend payout ratio is currently 9.52%.

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.

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