Bradley & Co. Private Wealth Management LLC Has $7.23 Million Stake in Salesforce, Inc. (NYSE:CRM)

Bradley & Co. Private Wealth Management LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 0.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 27,462 shares of the CRM provider’s stock after buying an additional 187 shares during the quarter. Salesforce makes up about 6.7% of Bradley & Co. Private Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. Bradley & Co. Private Wealth Management LLC’s holdings in Salesforce were worth $7,226,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Impact Partnership Wealth LLC boosted its position in Salesforce by 226.5% during the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock worth $65,000 after acquiring an additional 222 shares during the period. DAVENPORT & Co LLC grew its position in Salesforce by 25.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock valued at $894,000 after buying an additional 901 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Salesforce by 3.1% during the 3rd quarter. Proficio Capital Partners LLC now owns 1,840 shares of the CRM provider’s stock valued at $373,000 after buying an additional 56 shares during the period. Capital Advisory Group Advisory Services LLC bought a new stake in shares of Salesforce during the 3rd quarter worth about $237,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in shares of Salesforce in the 3rd quarter worth approximately $226,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock traded down $3.10 on Thursday, reaching $273.09. 4,809,033 shares of the stock were exchanged, compared to its average volume of 5,686,380. The stock has a market cap of $264.90 billion, a PE ratio of 65.02, a PEG ratio of 2.13 and a beta of 1.28. The firm has a fifty day moving average price of $296.28 and a two-hundred day moving average price of $263.44. 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.

Salesforce (NYSE:CRM) last issued its quarterly 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 return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company earned $1.01 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

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 $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Analyst Ratings Changes

Several equities research analysts recently commented on CRM shares. Wells Fargo & Company boosted their target price on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Stifel Nicolaus restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a report on Wednesday, April 3rd. UBS Group lifted their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. KeyCorp assumed coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Finally, Wedbush lifted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Nine 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $310.61.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the sale, the chief financial officer now owns 39,416 shares in the company, valued at $12,040,011.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the sale, the chief executive officer now owns 12,782,327 shares of the company’s stock, valued at approximately $3,536,230,764.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the sale, the chief financial officer now owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 635,793 shares of company stock worth $186,389,768. 3.70% of the stock is currently owned by company insiders.

Salesforce 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.