Wealth Management Partners LLC Sells 165 Shares of Salesforce, Inc. (NYSE:CRM)

Wealth Management Partners LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,592 shares of the CRM provider’s stock after selling 165 shares during the period. Salesforce comprises 1.1% of Wealth Management Partners LLC’s holdings, making the stock its 24th biggest holding. Wealth Management Partners LLC’s holdings in Salesforce were worth $2,538,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in shares of Salesforce by 14.5% in the 2nd quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock worth $24,734,000 after purchasing an additional 12,193 shares during the period. Kowal Investment Group LLC purchased a new stake in shares of Salesforce in the 2nd quarter worth approximately $215,000. Profund Advisors LLC lifted its position in Salesforce by 5.2% during the second quarter. Profund Advisors LLC now owns 41,754 shares of the CRM provider’s stock valued at $10,735,000 after acquiring an additional 2,053 shares during the last quarter. ProShare Advisors LLC lifted its position in Salesforce by 8.7% during the second quarter. ProShare Advisors LLC now owns 296,331 shares of the CRM provider’s stock valued at $76,187,000 after acquiring an additional 23,750 shares during the last quarter. Finally, Holderness Investments Co. lifted its position in Salesforce by 22.1% during the second quarter. Holderness Investments Co. now owns 2,373 shares of the CRM provider’s stock valued at $610,000 after acquiring an additional 430 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $324.77 on Monday. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company’s 50-day moving average price is $337.31 and its 200 day moving average price is $291.80. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

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). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.62 earnings per share. As a group, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued 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 dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CRM. Cfra set a $343.00 price target on shares of Salesforce in a report on Thursday, October 17th. Macquarie reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. DA Davidson increased their price objective on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Canaccord Genuity Group increased their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.