GAMMA Investing LLC Has $4.16 Million Stake in Salesforce, Inc. (NYSE:CRM)

GAMMA Investing LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 20.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,441 shares of the CRM provider’s stock after acquiring an additional 2,113 shares during the period. GAMMA Investing LLC’s holdings in Salesforce were worth $4,159,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce during the 3rd quarter worth about $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its holdings in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares in the last quarter. AIA Group Ltd grew its stake in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Salesforce by 1.3% during 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 during the period. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Jefferies Financial Group boosted their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating, thirty have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $378.86.

Salesforce Trading Down 1.1 %

Shares of Salesforce stock opened at $330.66 on Friday. The company’s 50-day moving average price is $331.09 and its 200-day moving average price is $285.02. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a market cap of $316.44 billion, a price-to-earnings ratio of 54.38, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its 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 firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. On average, equities analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,186,017 shares of company stock valued at $405,971,793 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

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.