Rosenberg Matthew Hamilton Has $89,000 Position in Salesforce Inc. (NYSE:CRM)

by · The Markets Daily

Rosenberg Matthew Hamilton lifted its position in Salesforce Inc. (NYSE:CRM – Free Report) by 88.1% during the first quarter, HoldingsChannel.com reports. The fund owned 333 shares of the CRM provider’s stock after purchasing an additional 156 shares during the period. Rosenberg Matthew Hamilton’s holdings in Salesforce were worth $89,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CRM. Atlantic Union Bankshares Corp increased its holdings in shares of Salesforce by 2.7% in the fourth quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider’s stock worth $9,146,000 after acquiring an additional 723 shares in the last quarter. Millstone Evans Group LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $823,000. Heartland Bank & Trust Co increased its stake in Salesforce by 117.2% during the 1st quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider’s stock worth $1,605,000 after purchasing an additional 3,227 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in Salesforce during the 4th quarter worth approximately $5,249,000. Finally, Elwood Capital Partners LP bought a new position in Salesforce in the fourth quarter valued at approximately $1,337,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on CRM shares. Canaccord Genuity Group dropped their price objective on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, May 28th. Stephens cut their price target on Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $325.00 target price on shares of Salesforce in a research report on Thursday, June 26th. Finally, Northland Securities cut their target price on Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $349.08.

View Our Latest Stock Report on CRM

Salesforce Price Performance

Salesforce stock opened at $271.58 on Friday. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The stock’s 50 day moving average is $272.21 and its 200-day moving average is $292.32. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $259.63 billion, a price-to-earnings ratio of 42.50, a PEG ratio of 2.44 and a beta of 1.36.

Salesforce (NYSE:CRM – Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the company posted $2.44 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 1,525 shares of the firm’s stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the transaction, the chief accounting officer directly owned 12,211 shares of the company’s stock, valued at approximately $3,097,442.26. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider owned 41,422 shares of the company’s stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,534 shares of company stock valued at $7,609,842 in the last three months. Insiders own 3.20% of the company’s stock.

Salesforce Profile

(Free Report)

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.

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