Cypress Point Wealth Management LLC Has $516,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Cypress Point Wealth Management LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 21.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,543 shares of the CRM provider’s stock after selling 420 shares during the quarter. Cypress Point Wealth Management LLC’s holdings in Salesforce were worth $516,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CRM. Deerfield Management Company L.P. Series C acquired a new stake in Salesforce in the second quarter worth about $409,000. Vulcan Value Partners LLC lifted its holdings in Salesforce by 76.1% in the second quarter. Vulcan Value Partners LLC now owns 1,476,111 shares of the CRM provider’s stock valued at $379,469,000 after buying an additional 637,710 shares during the period. Ascent Group LLC raised its position in shares of Salesforce by 15.2% during the 2nd quarter. Ascent Group LLC now owns 19,556 shares of the CRM provider’s stock valued at $5,028,000 after acquiring an additional 2,581 shares during the last quarter. Aviso Wealth Management boosted its position in shares of Salesforce by 10.9% in the 2nd quarter. Aviso Wealth Management now owns 3,075 shares of the CRM provider’s stock worth $791,000 after purchasing an additional 302 shares during the last quarter. Finally, Doheny Asset Management CA acquired a new position in Salesforce in the second quarter valued at about $1,799,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Down 0.4 %

CRM stock opened at $333.47 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $319.13 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30. The business’s fifty day moving average price is $336.73 and its two-hundred day moving average price is $294.01.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. 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 (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRM. Macquarie reissued a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Royal Bank of Canada boosted their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a report on Monday, January 6th. One investment 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 company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now owns 6,506 shares of the company’s stock, valued at $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,173,891 shares of company stock valued at $402,840,388 in the last three months. Corporate insiders own 3.20% of the company’s stock.

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.