Salesforce, Inc. (NYSE:CRM) Stock Position Decreased by Strategic Investment Advisors MI

Strategic Investment Advisors MI decreased its position in Salesforce, Inc. (NYSE:CRM) by 10.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,170 shares of the CRM provider’s stock after selling 508 shares during the period. Strategic Investment Advisors MI’s holdings in Salesforce were worth $1,394,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Drive Wealth Management LLC grew its position in Salesforce by 4.3% in the 4th quarter. Drive Wealth Management LLC now owns 2,537 shares of the CRM provider’s stock worth $849,000 after purchasing an additional 104 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Salesforce by 87.8% in the 4th quarter. E Fund Management Hong Kong Co. Ltd. now owns 430 shares of the CRM provider’s stock worth $144,000 after purchasing an additional 201 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Salesforce by 10.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 6,066 shares of the CRM provider’s stock worth $2,028,000 after purchasing an additional 556 shares during the last quarter. Regatta Capital Group LLC grew its position in Salesforce by 1.0% in the 4th quarter. Regatta Capital Group LLC now owns 6,517 shares of the CRM provider’s stock worth $2,179,000 after purchasing an additional 64 shares during the last quarter. Finally, M3 Advisory Group LLC grew its position in Salesforce by 10.6% in the 4th quarter. M3 Advisory Group LLC now owns 1,770 shares of the CRM provider’s stock worth $592,000 after purchasing an additional 169 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CRM shares. Stifel Nicolaus increased their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Barclays increased their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a report on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the sale, the insider now owns 119,402 shares in the company, valued at approximately $35,586,572.08. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,173,891 shares of company stock worth $402,840,388. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $333.47 on Monday. The company has a market capitalization of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a one year low of $212.00 and a one year 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 company’s fifty day moving average price is $336.73 and its 200 day moving average price is $294.31.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The business’s revenue was up 8.3% compared to the same quarter last year. As a group, analysts expect 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. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s payout ratio is 26.32%.

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.