Fountainhead AM LLC Acquires Shares of 1,592 Salesforce, Inc. (NYSE:CRM)

Fountainhead AM LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,592 shares of the CRM provider’s stock, valued at approximately $419,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Naples Global Advisors LLC raised its holdings in shares of Salesforce by 16.5% during the third quarter. Naples Global Advisors LLC now owns 2,557 shares of the CRM provider’s stock worth $519,000 after acquiring an additional 363 shares in the last quarter. Traynor Capital Management Inc. boosted its holdings in shares of Salesforce by 8.8% in the 3rd quarter. Traynor Capital Management Inc. now owns 1,299 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 105 shares in the last quarter. Capital Investment Advisors LLC raised its position in Salesforce by 15.1% in the 3rd quarter. Capital Investment Advisors LLC now owns 6,584 shares of the CRM provider’s stock worth $1,335,000 after purchasing an additional 864 shares during the last quarter. Montecito Bank & Trust bought a new position in Salesforce in the 3rd quarter worth approximately $248,000. Finally, Impact Partnership Wealth LLC raised its position in shares of Salesforce by 226.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock valued at $65,000 after acquiring an additional 222 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Salesforce stock traded up $2.82 on Tuesday, reaching $276.63. 6,283,041 shares of the stock were exchanged, compared to its average volume of 5,718,907. The firm has a fifty day moving average price of $296.91 and a two-hundred day moving average price of $263.28. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market cap of $268.33 billion, a PE ratio of 65.86, a PEG ratio of 2.08 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) 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 company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business earned $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $274.03, for a total value of $4,110,450.00. Following the transaction, the chief executive officer now directly owns 12,812,327 shares of the company’s stock, valued at approximately $3,510,961,967.81. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $283.12, for a total transaction of $2,831,200.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at approximately $17,104,977.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $274.03, for a total transaction of $4,110,450.00. Following the sale, the chief executive officer now owns 12,812,327 shares in the company, valued at $3,510,961,967.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 611,379 shares of company stock worth $179,698,420. 3.70% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. BMO Capital Markets increased their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Thursday, March 7th. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Citigroup increased their price target on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Monday, April 15th. Nine investment 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 stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average 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.