Metis Global Partners LLC Has $14.46 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Metis Global Partners LLC increased its holdings in Salesforce, Inc. (NYSE:CRM) by 15.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,937 shares of the CRM provider’s stock after purchasing an additional 7,273 shares during the period. Salesforce makes up 0.6% of Metis Global Partners LLC’s investment portfolio, making the stock its 28th biggest holding. Metis Global Partners LLC’s holdings in Salesforce were worth $14,456,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the 4th quarter worth $31,000. Pacifica Partners Inc. increased its holdings in shares of Salesforce by 333.3% during the 4th 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 period. Finally, BKM Wealth Management LLC acquired a new position in Salesforce in the 4th quarter valued at approximately $34,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock traded up $1.53 during mid-day trading on Friday, hitting $273.66. 4,041,636 shares of the company traded hands, compared to its average volume of 5,219,539. The stock has a fifty day moving average price of $294.23 and a 200-day moving average price of $267.00. 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 cap of $264.90 billion, a price-to-earnings ratio of 65.16, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 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 analysts’ expectations of $9.22 billion. During the same quarter last year, the company earned $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors 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 is currently 9.52%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Robert W. Baird increased their price objective on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wells Fargo & Company upped their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. Oppenheimer lifted their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Bank of America upped their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Evercore ISI raised their target price on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the transaction, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at $3,425,005,846.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $269.53, for a total value of $4,042,950.00. Following the transaction, the chief executive officer now directly owns 12,707,327 shares of the company’s stock, valued at approximately $3,425,005,846.31. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 629,993 shares of company stock worth $184,255,474 in the last ninety days. Insiders own 3.70% of the company’s stock.

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.