Rise Advisors LLC Sells 32 Shares of Salesforce, Inc. (NYSE:CRM)

Rise Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 794 shares of the CRM provider’s stock after selling 32 shares during the quarter. Rise Advisors LLC’s holdings in Salesforce were worth $266,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the 3rd quarter valued at about $27,000. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% in the third 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 period. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the 2nd quarter valued at $33,000. Finally, Annapolis Financial Services LLC grew its position in Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now owns 118,514 shares in the company, valued at $34,353,653.18. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the firm’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the completion of the transaction, the insider now directly owns 19,116 shares in the company, valued at $6,575,904. This represents a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,181,817 shares of company stock worth $404,760,429. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Oppenheimer reissued an “outperform” rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Northland Securities restated an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, TD Cowen lifted their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.39.

Salesforce Stock Performance

Salesforce stock traded down $4.00 during midday trading on Tuesday, hitting $326.53. 2,622,961 shares of the company were exchanged, compared to its average volume of 4,317,451. The business has a fifty day simple moving average of $333.53 and a two-hundred day simple moving average of $287.43. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $312.49 billion, a PE ratio of 53.71, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Salesforce Company 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.