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

Norden Group LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,530 shares of the CRM provider’s stock after selling 2,044 shares during the period. Salesforce accounts for 0.5% of Norden Group LLC’s holdings, making the stock its 18th biggest position. Norden Group LLC’s holdings in Salesforce were worth $3,034,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Cerity Partners LLC boosted its holdings in Salesforce by 1,254.7% in the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after buying an additional 3,226,512 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Salesforce by 23,653.7% in the fourth quarter. International Assets Investment Management LLC now owns 1,406,220 shares of the CRM provider’s stock valued at $370,033,000 after acquiring an additional 1,400,300 shares in the last quarter. Lone Pine Capital LLC boosted its stake in shares of Salesforce by 47.5% in the third quarter. Lone Pine Capital LLC now owns 2,499,630 shares of the CRM provider’s stock worth $506,875,000 after acquiring an additional 804,634 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Salesforce by 330.0% during the third quarter. Assenagon Asset Management S.A. now owns 935,885 shares of the CRM provider’s stock worth $189,779,000 after purchasing an additional 718,245 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at $114,521,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Monday, April 15th. Robert W. Baird boosted their target price on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Argus upped their price target on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Evercore ISI upped their target price on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the completion of the sale, the chief executive officer now owns 13,626,166 shares of the company’s stock, valued at $3,855,523,669.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, January 31st. The shares were sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the transaction, the chief executive officer now directly owns 13,626,166 shares of the company’s stock, valued at approximately $3,855,523,669.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 610,793 shares of company stock valued at $179,197,018. 3.70% of the stock is currently owned by insiders.

Salesforce Trading Down 1.9 %

CRM traded down $5.22 on Tuesday, reaching $270.52. 2,535,538 shares of the company’s stock were exchanged, compared to its average volume of 5,598,673. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The company’s 50 day moving average is $295.69 and its 200-day moving average is $265.20. 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 has a market cap of $262.40 billion, a price-to-earnings ratio of 65.03, a PEG ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. Equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. Salesforce’s payout ratio is currently 9.52%.

Salesforce Company Profile

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.