Salesforce, Inc. (NYSE:CRM) Stock Holdings Reduced by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,391 shares of the CRM provider’s stock after selling 123 shares during the period. Institute for Wealth Management LLC.’s holdings in Salesforce were worth $3,474,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Veritas Asset Management LLP acquired a new position in Salesforce during the 3rd quarter worth $733,805,000. Swedbank AB lifted its position in shares of Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. KBC Group NV boosted its stake in Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the period. International Assets Investment Management LLC grew its holdings in Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares during the last quarter. Finally, State Street Corp increased its position in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Salesforce news, COO Brian Millham sold 708 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $235,254.24. Following the sale, the chief operating officer now owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,669 shares of company stock worth $383,286,905. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 3.0 %

NYSE CRM opened at $343.51 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The business has a fifty day moving average price of $338.53 and a two-hundred day moving average price of $296.43. 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 $328.74 billion, a PE ratio of 56.50, a PEG ratio of 3.20 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate 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%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business earned $1.62 earnings per share. Equities analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared 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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRM. Citigroup boosted their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price 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.