Jackson Hole Capital Partners LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Jackson Hole Capital Partners LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,224 shares of the CRM provider’s stock after purchasing an additional 885 shares during the period. Jackson Hole Capital Partners LLC’s holdings in Salesforce were worth $2,690,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRM. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce during the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. lifted its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. BKM Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter valued at approximately $34,000. Finally, AlphaMark Advisors LLC lifted its stake in Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several research reports. KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating for the company. UBS Group boosted their target price on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. Oppenheimer boosted their target price on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Srinivas Tallapragada sold 2,890 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $893,934.80. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at $18,687,877.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the sale, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold 635,793 shares of company stock valued at $186,389,768 over the last 90 days. 3.70% of the stock is owned by insiders.

Salesforce Trading Down 1.1 %

Shares of CRM traded down $3.10 during mid-day trading on Thursday, reaching $273.09. The stock had a trading volume of 4,809,033 shares, compared to its average volume of 5,686,380. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The business’s fifty day moving average is $296.28 and its 200 day moving average is $263.44. The firm has a market cap of $264.90 billion, a price-to-earnings ratio of 65.02, a P/E/G ratio of 2.13 and a beta of 1.28.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating 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 in the prior year, the company posted $1.01 earnings per share. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is currently 9.52%.

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.