BIP Wealth LLC Has $349,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

BIP Wealth LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 7.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,327 shares of the CRM provider’s stock after selling 113 shares during the period. BIP Wealth LLC’s holdings in Salesforce were worth $349,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in Salesforce in the fourth quarter valued at approximately $31,000. BKM Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $34,000. Pacifica Partners Inc. increased its position in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in shares of Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 1.0 %

Shares of Salesforce stock traded down $2.75 during trading on Thursday, reaching $273.44. The company’s stock had a trading volume of 2,616,270 shares, compared to its average volume of 5,656,646. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The company has a market cap of $265.24 billion, a price-to-earnings ratio of 64.14, a PEG ratio of 2.13 and a beta of 1.28. The firm’s 50-day moving average is $296.65 and its two-hundred day moving average is $263.37. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS 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 company had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business posted $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at $3,475,435,977.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 616,589 shares of company stock worth $181,071,306. 3.70% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CRM. Evercore ISI upped their target price on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. upped their target price 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. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Robert W. Baird upped their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $310.61.

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.