HF Advisory Group LLC Sells 821 Shares of Salesforce, Inc. (NYSE:CRM)

HF Advisory Group LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,660 shares of the CRM provider’s stock after selling 821 shares during the period. HF Advisory Group LLC’s holdings in Salesforce were worth $963,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Fairfield Bush & CO. grew its holdings in Salesforce by 8.7% in the first quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after purchasing an additional 357 shares during the period. Roundview Capital LLC grew its stake in Salesforce by 18.8% during the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after acquiring an additional 3,809 shares in the last quarter. Covestor Ltd lifted its stake in Salesforce by 42.8% in the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock worth $132,000 after purchasing an additional 186 shares in the last quarter. Ergoteles LLC acquired a new position in shares of Salesforce during the 1st quarter worth approximately $455,000. Finally, Mackenzie Financial Corp grew its position in shares of Salesforce by 21.3% in the first quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after purchasing an additional 151,440 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the completion of the transaction, the chief executive officer now owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 907,149 shares of company stock worth $262,952,448. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on CRM. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Wedbush increased their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Monday. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday. Finally, Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Nine investment 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $307.87.

Salesforce Stock Down 0.9 %

Shares of NYSE CRM traded down $2.42 during mid-day trading on Thursday, reaching $273.90. 830,823 shares of the company traded hands, compared to its average volume of 5,637,243. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The stock has a market cap of $265.68 billion, a PE ratio of 65.79, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company’s fifty day moving average is $298.10 and its two-hundred day moving average is $260.89.

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

Salesforce Dividend Announcement

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

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.