Salesforce, Inc. (NYSE:CRM) Shares Purchased by Charles Carroll Financial Partners LLC

Charles Carroll Financial Partners LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 102.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,600 shares of the CRM provider’s stock after buying an additional 3,850 shares during the period. Salesforce makes up 2.2% of Charles Carroll Financial Partners LLC’s portfolio, making the stock its 15th biggest position. Charles Carroll Financial Partners LLC’s holdings in Salesforce were worth $2,000,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CRM. Cerity Partners LLC grew its stake in shares of Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Salesforce by 23,653.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after acquiring an additional 1,400,300 shares in the last quarter. 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. Fisher Asset Management LLC increased its position in shares of Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after acquiring an additional 752,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Salesforce by 330.0% in the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock worth $189,779,000 after acquiring an additional 718,245 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CRM. Robert W. Baird lifted their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Bank of America boosted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Finally, StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, February 5th. The shares were sold at an average price of $285.20, for a total value of $2,852,000.00. Following the transaction, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 629,993 shares of company stock worth $184,255,474. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $1.53 on Friday, hitting $273.66. 4,041,636 shares of the company were exchanged, compared to its average volume of 5,219,539. 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 company’s 50 day moving average price is $294.23 and its two-hundred day moving average price is $266.17. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The firm has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.16, a PEG ratio of 2.10 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. Research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

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

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.