Zweig DiMenna Associates LLC Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

Zweig DiMenna Associates LLC raised its position in Salesforce, Inc. (NYSE:CRM) by 59.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 39,800 shares of the CRM provider’s stock after acquiring an additional 14,800 shares during the quarter. Zweig DiMenna Associates LLC’s holdings in Salesforce were worth $13,306,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce during the 2nd quarter worth about $33,000. Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC lifted its holdings in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce during the 3rd quarter worth about $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,173,891 shares of company stock valued at $402,840,388. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on CRM. JPMorgan Chase & Co. boosted their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. DA Davidson upped their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Cfra set a $343.00 target price on Salesforce in a research report on Thursday, October 17th. Needham & Company LLC boosted their target price on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Finally, Wells Fargo & Company upped their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Price Performance

Shares of Salesforce stock opened at $337.25 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $322.75 billion, a price-to-earnings ratio of 55.46, a P/E/G ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm’s 50-day moving average price is $336.50 and its two-hundred day moving average price is $293.20.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is 26.32%.

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.