Addison Advisors LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Addison Advisors LLC raised its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,576 shares of the CRM provider’s stock after buying an additional 41 shares during the quarter. Addison Advisors LLC’s holdings in Salesforce were worth $415,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce in the fourth quarter worth $31,000. BKM Wealth Management LLC purchased a new position in shares of Salesforce in the fourth quarter worth $34,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its stake in shares of Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 4,204 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Brian Millham sold 4,204 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock worth $182,177,918 in the last quarter. 3.70% of the stock is owned by corporate insiders.

Salesforce Price Performance

NYSE CRM traded up $1.15 during trading on Friday, hitting $274.29. 3,754,585 shares of the stock traded hands, compared to its average volume of 5,162,527. The company has a market capitalization of $266.06 billion, a P/E ratio of 65.31, a price-to-earnings-growth ratio of 2.10 and a beta of 1.28. The firm has a 50-day simple moving average of $295.97 and a 200-day simple moving average of $263.90. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $190.76 and a 12-month high of $318.71.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. 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 is presently 9.52%.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Wedbush upped their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. JPMorgan Chase & Co. upped their price objective on Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. KeyCorp initiated coverage on Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. Mizuho reiterated a “buy” rating and set a $345.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Finally, Jefferies Financial Group upped their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

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.