Salesforce, Inc. (NYSE:CRM) Shares Sold by Leo Wealth LLC

Leo Wealth LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 32.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,705 shares of the CRM provider’s stock after selling 2,768 shares during the quarter. Leo Wealth LLC’s holdings in Salesforce were worth $1,907,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in CRM. State Street Corp raised its holdings in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after acquiring an additional 96,381 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE CRM opened at $330.52 on Friday. The company has a market capitalization of $316.31 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 3.09 and a beta of 1.31. 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 business has a 50-day moving average of $339.04 and a 200-day moving average of $299.65.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the business earned $1.62 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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 $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CRM shares. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research report on Monday, January 6th. JPMorgan Chase & Co. lifted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Robert W. Baird boosted their price target on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Oppenheimer restated an “outperform” rating and issued a $415.00 price objective (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. Insiders own 3.20% of the company’s stock.

About Salesforce

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.