Salesforce, Inc. (NYSE:CRM) Shares Sold by Consolidated Investment Group LLC

Consolidated Investment Group LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 15.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,200 shares of the CRM provider’s stock after selling 4,400 shares during the quarter. Salesforce comprises 1.1% of Consolidated Investment Group LLC’s portfolio, making the stock its 25th largest position. Consolidated Investment Group LLC’s holdings in Salesforce were worth $6,105,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Prentice Wealth Management LLC boosted its position in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares during the last quarter. Legal Advantage Investments Inc. raised its holdings in shares of Salesforce by 0.7% during the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock valued at $1,466,000 after purchasing an additional 40 shares in the last quarter. Westside Investment Management Inc. lifted its stake in shares of Salesforce by 0.9% in the 4th quarter. Westside Investment Management Inc. now owns 4,712 shares of the CRM provider’s stock valued at $1,240,000 after purchasing an additional 42 shares during the last quarter. Enterprise Bank & Trust Co increased its position in Salesforce by 0.4% during the fourth quarter. Enterprise Bank & Trust Co now owns 12,133 shares of the CRM provider’s stock worth $3,193,000 after buying an additional 44 shares during the last quarter. Finally, Fort Point Capital Partners LLC increased its holdings in shares of Salesforce by 1.5% during the 3rd quarter. Fort Point Capital Partners LLC now owns 3,298 shares of the CRM provider’s stock valued at $669,000 after acquiring an additional 49 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 901,258 shares of company stock valued at $256,569,563 in the last ninety days. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $301.18 on Friday. The firm’s 50 day simple moving average is $294.19 and its 200 day simple moving average is $252.10. The company has a market capitalization of $292.14 billion, a price-to-earnings ratio of 71.71, a P/E/G ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s payout ratio is currently 9.52%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on CRM shares. Stifel Nicolaus upped their price target on shares of Salesforce from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Mizuho reiterated a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. UBS Group upped their price target on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Piper Sandler restated a “neutral” rating and set a $285.00 price objective on shares of Salesforce in a research report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $304.32.

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.