Raab & Moskowitz Asset Management LLC Has $1.30 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Raab & Moskowitz Asset Management LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,924 shares of the CRM provider’s stock after selling 135 shares during the period. Raab & Moskowitz Asset Management LLC’s holdings in Salesforce were worth $1,296,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC grew its position in Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after buying an additional 3,226,512 shares during the period. International Assets Investment Management LLC grew its position in Salesforce by 23,653.7% during the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after buying an additional 1,400,300 shares during the period. Lone Pine Capital LLC grew its position in Salesforce by 47.5% during the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock valued at $506,875,000 after buying an additional 804,634 shares during the period. Assenagon Asset Management S.A. grew its position in Salesforce by 330.0% during the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after buying an additional 718,245 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC bought a new position in Salesforce during the third quarter valued at about $114,521,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.4 %

Shares of NYSE CRM opened at $274.29 on Friday. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s 50 day simple moving average is $295.97 and its two-hundred day simple moving average is $264.30. The stock has a market capitalization of $266.06 billion, a P/E ratio of 65.31, a PEG ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly 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 business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the business earned $1.01 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the transaction, the chief executive officer now directly owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total value of $4,275,750.00. Following the transaction, the chief executive officer now owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 2,890 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $893,934.80. Following the completion of the transaction, the insider now owns 60,416 shares in the company, valued at approximately $18,687,877.12. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 over the last ninety days. Insiders own 3.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CRM. Bank of America increased their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group upped their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Argus upped their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Wells Fargo & Company upped their price objective on shares of Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target 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.