Soltis Investment Advisors LLC Sells 434 Shares of Salesforce, Inc. (NYSE:CRM)

Soltis Investment Advisors LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,493 shares of the CRM provider’s stock after selling 434 shares during the period. Soltis Investment Advisors LLC’s holdings in Salesforce were worth $834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Silicon Valley Capital Partners increased its position in shares of Salesforce by 1.4% during the fourth quarter. Silicon Valley Capital Partners now owns 33,751 shares of the CRM provider’s stock valued at $11,284,000 after purchasing an additional 473 shares during the period. Opal Wealth Advisors LLC grew its position in Salesforce by 17.0% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,141 shares of the CRM provider’s stock valued at $381,000 after acquiring an additional 166 shares during the period. Ferguson Wellman Capital Management Inc. grew its position in Salesforce by 8.7% in the fourth quarter. Ferguson Wellman Capital Management Inc. now owns 1,932 shares of the CRM provider’s stock valued at $646,000 after acquiring an additional 155 shares during the period. RAM Investment Partners LLC grew its position in Salesforce by 6.4% in the fourth quarter. RAM Investment Partners LLC now owns 2,302 shares of the CRM provider’s stock valued at $770,000 after acquiring an additional 139 shares during the period. Finally, Angeles Wealth Management LLC grew its position in Salesforce by 2.9% in the fourth quarter. Angeles Wealth Management LLC now owns 3,838 shares of the CRM provider’s stock valued at $1,283,000 after acquiring an additional 109 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Up 0.3 %

NYSE:CRM opened at $326.95 on Tuesday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The business’s 50-day moving average price is $338.97 and its two-hundred day moving average price is $301.03. 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 firm has a market capitalization of $312.89 billion, a price-to-earnings ratio of 53.77, a PEG ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings results 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 return on equity of 12.34% and a net margin of 15.96%. The business 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 company earned $1.62 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Robert W. Baird upped their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price target for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, BMO Capital Markets increased their target price on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued 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 company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insiders Place Their Bets

In related news, COO Brian Millham sold 14,808 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock worth $384,366,700 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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.