NewSquare Capital LLC Has $3.98 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

NewSquare Capital LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The fund owned 15,130 shares of the CRM provider’s stock after purchasing an additional 510 shares during the period. NewSquare Capital LLC’s holdings in Salesforce were worth $3,981,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. Pacifica Partners Inc. grew its position 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 buying an additional 100 shares during the period. BKM Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter valued at $34,000. Finally, AlphaMark Advisors LLC boosted its stake in Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Canaccord Genuity Group restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Wedbush boosted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group upped their price target on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Finally, Argus boosted their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Nine investment 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. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Buying and Selling

In related news, COO Brian Millham sold 24,453 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the completion of the transaction, the chief executive officer now owns 13,671,166 shares of the company’s stock, valued at approximately $3,838,726,701.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 24,453 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $302.08, for a total value of $7,386,762.24. The disclosure for this sale can be found here. Insiders have sold 616,589 shares of company stock worth $181,071,306 in the last three months. Corporate insiders own 3.70% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $0.24 during trading on Wednesday, hitting $276.92. The company had a trading volume of 2,031,926 shares, compared to its average volume of 5,672,608. The stock has a 50 day simple moving average of $296.91 and a 200 day simple moving average of $263.28. The firm has a market capitalization of $268.61 billion, a P/E ratio of 66.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.57 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.58%. Salesforce’s dividend payout ratio is presently 9.52%.

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.