Salesforce, Inc. (NYSE:CRM) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,535 shares of the CRM provider’s stock after selling 305 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Salesforce were worth $1,720,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce during the 4th quarter valued at about $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the 4th quarter valued at about $31,000. Pacifica Partners Inc. lifted its position in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $288.30, for a total value of $4,324,500.00. Following the completion of the transaction, the chief executive officer now owns 13,551,166 shares of the company’s stock, valued at $3,906,801,157.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was 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 owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $288.30, for a total value of $4,324,500.00. Following the completion of the transaction, the chief executive officer now directly owns 13,551,166 shares of the company’s stock, valued at approximately $3,906,801,157.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 619,993 shares of company stock valued at $181,241,324. 3.70% of the stock is owned by company insiders.

Salesforce Trading Up 1.0 %

Salesforce stock traded up $2.76 during midday trading on Tuesday, hitting $278.39. 1,565,464 shares of the stock were exchanged, compared to its average volume of 5,504,298. The company has a fifty day simple moving average of $293.74 and a two-hundred day simple moving average of $267.47. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock has a market capitalization of $269.48 billion, a PE ratio of 66.27, a P/E/G ratio of 2.10 and a beta of 1.30. 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 data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the company earned $1.01 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. Salesforce’s payout ratio is presently 9.52%.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target (up from $325.00) on shares of Salesforce in a report on Friday, April 12th. Mizuho reaffirmed a “buy” rating and issued a $345.00 price target (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Evercore ISI increased their price objective on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Finally, Jefferies Financial Group increased their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Monday, April 22nd. Nine 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. Based on data from MarketBeat, the company currently 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.