Salesforce, Inc. (NYSE:CRM) Shares Sold by LRI Investments LLC

LRI Investments LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,480 shares of the CRM provider’s stock after selling 488 shares during the quarter. Salesforce comprises 0.7% of LRI Investments LLC’s portfolio, making the stock its 23rd largest position. LRI Investments LLC’s holdings in Salesforce were worth $8,184,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Lightspeed Management Company L.L.C. bought a new position in Salesforce in the 4th quarter worth about $414,000. Lionshead Wealth Management LLC bought a new position in Salesforce in the 4th quarter worth approximately $593,000. Investment Management Corp of Ontario grew its holdings in Salesforce by 6.4% in the 4th quarter. Investment Management Corp of Ontario now owns 48,238 shares of the CRM provider’s stock worth $16,127,000 after buying an additional 2,890 shares in the last quarter. Janus Henderson Group PLC increased its position in Salesforce by 7.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,576,104 shares of the CRM provider’s stock valued at $861,372,000 after acquiring an additional 169,075 shares during the period. Finally, Jefferies Financial Group Inc. raised its stake in Salesforce by 72.0% during the 4th quarter. Jefferies Financial Group Inc. now owns 38,441 shares of the CRM provider’s stock valued at $12,852,000 after acquiring an additional 16,092 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now owns 5,864 shares of the company’s stock, valued at $1,805,936.08. The trade was a 7.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,830 shares of company stock valued at $12,907,361. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CRM. DA Davidson reiterated an “underperform” rating and issued a $200.00 target price on shares of Salesforce in a research report on Monday, April 21st. Bank of America decreased their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Westpark Capital reissued a “buy” rating and set a $320.00 target price on shares of Salesforce in a report on Wednesday, April 30th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Friday, April 25th. Finally, Macquarie reiterated a “neutral” rating and set a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and five have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $350.56.

Salesforce Stock Performance

Shares of CRM opened at $275.38 on Monday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $264.75 billion, a PE ratio of 45.29, a PEG ratio of 2.58 and a beta of 1.42. The company’s 50 day moving average price is $267.33 and its 200 day moving average price is $307.36.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $1.68 dividend on an annualized basis and a yield of 0.61%. This is an increase from Salesforce’s previous quarterly dividend of $0.40. Salesforce’s payout ratio is 26.10%.

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.