Valmark Advisers Inc. Has $576,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Valmark Advisers Inc. lifted its stake in Salesforce, Inc. (NYSE:CRM) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,190 shares of the CRM provider’s stock after acquiring an additional 51 shares during the quarter. Valmark Advisers Inc.’s holdings in Salesforce were worth $576,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRM. Cerity Partners LLC boosted 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 worth $916,693,000 after purchasing an additional 3,226,512 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Salesforce by 23,653.7% during the 4th quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock worth $370,033,000 after buying an additional 1,400,300 shares during the period. Lone Pine Capital LLC grew its stake in Salesforce by 47.5% in the 3rd 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 last quarter. Assenagon Asset Management S.A. raised its holdings in Salesforce by 330.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock valued at $189,779,000 after acquiring an additional 718,245 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Salesforce during the third quarter worth approximately $114,521,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at approximately $11,903,561.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 595,793 shares of company stock valued at $175,070,968 over the last quarter. Company insiders own 3.70% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on CRM shares. Evercore ISI lifted their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Monday, April 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. UBS Group raised their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, Citigroup lifted their price target on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research report on Monday, February 26th. Nine equities research 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Stock Up 0.4 %

Salesforce stock opened at $274.29 on Monday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $266.06 billion, a P/E ratio of 65.31, a P/E/G ratio of 2.11 and a beta of 1.28. The firm has a 50 day moving average price of $295.97 and a 200-day moving average price of $264.71. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 earnings per share. As a group, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s dividend payout ratio is presently 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.