Pinion Investment Advisors LLC Lowers Position in Salesforce, Inc. (NYSE:CRM)

Pinion Investment Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 4.4% in the 4th quarter, Holdings Channel reports. The fund owned 1,407 shares of the CRM provider’s stock after selling 64 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Salesforce were worth $470,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the fourth quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the fourth quarter worth about $31,000. Collier Financial bought a new stake in shares of Salesforce in the fourth quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at about $27,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 1.8 %

Salesforce stock opened at $292.60 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock’s fifty day moving average is $328.10 and its two-hundred day moving average is $308.16. The stock has a market cap of $280.02 billion, a PE ratio of 48.13, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its 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 net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 25.16%.

Insider Transactions at Salesforce

In related news, Director Robin L. Washington acquired 1,695 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was bought at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares of the company’s stock, valued at $12,799,331.45. The trade was a 4.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares in the company, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CRM shares. DA Davidson dropped their target price on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating on the stock in a report on Thursday, February 27th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Stifel Nicolaus reduced their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Jefferies Financial Group lifted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays lifted their price target on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $365.32.

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.