Triangle Securities Wealth Management Sells 175 Shares of Salesforce, Inc. (NYSE:CRM)

Triangle Securities Wealth Management reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,772 shares of the CRM provider’s stock after selling 175 shares during the quarter. Triangle Securities Wealth Management’s holdings in Salesforce were worth $2,933,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Aviance Capital Partners LLC raised its position in shares of Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares during the last quarter. EWA LLC increased its stake in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares in the last quarter. Umpqua Bank lifted its position in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares during the period. Principal Street Partners LLC grew its stake in Salesforce by 1.0% during the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after purchasing an additional 34 shares during the last quarter. Finally, Nvwm LLC increased its holdings in shares of Salesforce by 1.4% in the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $324.77 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The business has a fifty day moving average of $337.31 and a two-hundred day moving average of $291.56. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares in the company, valued at approximately $15,128,626.68. This represents a 11.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 6,161 shares of Salesforce stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the sale, the chief operating officer now directly owns 969 shares in the company, valued at approximately $280,767.75. The trade was a 86.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 over the last three months. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. DA Davidson raised their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Royal Bank of Canada raised their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.