Salesforce, Inc. (NYSE:CRM) Shares Sold by TRUE Private Wealth Advisors

TRUE Private Wealth Advisors trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 7.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,905 shares of the CRM provider’s stock after selling 489 shares during the period. TRUE Private Wealth Advisors’ holdings in Salesforce were worth $1,554,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Scissortail Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth about $978,000. Tyche Wealth Partners LLC acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $673,000. Arbor Trust Wealth Advisors LLC boosted its position in shares of Salesforce by 1.5% in the fourth quarter. Arbor Trust Wealth Advisors LLC now owns 6,292 shares of the CRM provider’s stock worth $1,656,000 after acquiring an additional 90 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Salesforce by 2.5% in the fourth quarter. Avior Wealth Management LLC now owns 18,246 shares of the CRM provider’s stock worth $4,801,000 after acquiring an additional 438 shares during the last quarter. Finally, Allen Capital Group LLC acquired a new stake in shares of Salesforce in the fourth quarter worth approximately $243,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE CRM traded up $4.51 during midday trading on Wednesday, reaching $277.41. 7,624,347 shares of the company traded hands, compared to its average volume of 4,686,930. Salesforce, Inc. has a 52 week low of $190.57 and a 52 week high of $318.71. The stock has a 50-day moving average price of $298.35 and a 200 day moving average price of $260.79. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market cap of $269.09 billion, a price-to-earnings ratio of 66.05, a PEG ratio of 2.10 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The company’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of the business’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.00, for a total value of $2,009,016.00. Following the sale, the chief financial officer now directly owns 38,993 shares in the company, valued at $11,074,012. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of the business’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the sale, the chief financial officer now owns 38,993 shares in the company, valued at approximately $11,074,012. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $274.01, for a total value of $4,110,150.00. Following the sale, the chief executive officer now owns 13,761,166 shares in the company, valued at approximately $3,770,697,095.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 897,375 shares of company stock worth $260,206,096. 3.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on CRM shares. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. JMP Securities reiterated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Monday. Finally, KeyCorp started coverage on shares of Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating for the company. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $307.87.

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.