Salesforce, Inc. (NYSE:CRM) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,750 shares of the CRM provider’s stock after selling 606 shares during the quarter. Mutual Advisors LLC’s holdings in Salesforce were worth $3,440,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce during the third quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. raised its position in shares of 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 purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC lifted its stake 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 buying an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new stake in Salesforce in the 3rd quarter worth about $53,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE:CRM opened at $334.75 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a fifty day simple moving average of $336.50 and a two-hundred day simple moving average of $293.20. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $320.36 billion, a price-to-earnings ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 earnings per share. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $298,055.16. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,534,090. The trade was a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,173,891 shares of company stock worth $402,840,388 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRM. Oppenheimer reissued an “outperform” rating and set a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Royal Bank of Canada raised their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Citigroup upped their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Scotiabank upped their price objective on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

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.