Salesforce, Inc. (NYSE:CRM) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 8.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,856 shares of the CRM provider’s stock after selling 783 shares during the period. Premier Path Wealth Partners LLC’s holdings in Salesforce were worth $2,961,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CRM. Sanibel Captiva Trust Company Inc. increased its position in shares of Salesforce by 0.6% in the fourth quarter. Sanibel Captiva Trust Company Inc. now owns 126,826 shares of the CRM provider’s stock valued at $42,402,000 after buying an additional 763 shares in the last quarter. Howard Financial Services LTD. boosted its holdings in Salesforce by 23.3% during the 4th quarter. Howard Financial Services LTD. now owns 1,416 shares of the CRM provider’s stock valued at $473,000 after acquiring an additional 268 shares during the period. Integrated Investment Consultants LLC increased its holdings in Salesforce by 3.6% in the fourth quarter. Integrated Investment Consultants LLC now owns 1,510 shares of the CRM provider’s stock valued at $505,000 after buying an additional 52 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in Salesforce by 11.1% in the fourth quarter. Arkadios Wealth Advisors now owns 42,050 shares of the CRM provider’s stock valued at $14,059,000 after buying an additional 4,212 shares during the last quarter. Finally, Dakota Community Bank & Trust NA lifted its holdings in shares of Salesforce by 32.5% in the 4th quarter. Dakota Community Bank & Trust NA now owns 591 shares of the CRM provider’s stock valued at $198,000 after buying an additional 145 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. Macquarie reissued a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Citigroup upped their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Trading Up 1.5 %

NYSE:CRM opened at $324.77 on Friday. The company has a market cap of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $337.25 and a two-hundred day simple moving average of $291.08.

Salesforce (NYSE:CRM) last released 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 return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Salesforce’s revenue was up 8.3% on a year-over-year basis. Research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 6,161 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the sale, the chief operating officer now directly owns 969 shares of the company’s stock, valued at $280,767.75. This represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is currently owned by corporate insiders.

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.