Salesforce, Inc. (NYSE:CRM) Shares Sold by Cyr Financial Inc.

Cyr Financial Inc. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 12.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,662 shares of the CRM provider’s stock after selling 394 shares during the quarter. Salesforce makes up about 0.8% of Cyr Financial Inc.’s portfolio, making the stock its 19th biggest holding. Cyr Financial Inc.’s holdings in Salesforce were worth $890,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of CRM. Nvest Financial LLC lifted its position in Salesforce by 1.1% in the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after buying an additional 31 shares during the last quarter. Sachetta LLC lifted its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the last quarter. Aviance Capital Partners LLC boosted its position in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC increased its holdings in Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares during the last quarter. Finally, Umpqua Bank raised its position in Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,669 shares of company stock worth $383,286,905 in the last three months. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. BMO Capital Markets raised their price target on Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Macquarie reissued a “neutral” rating and set a $370.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Down 3.0 %

CRM stock opened at $343.51 on Friday. The company has a market cap of $328.74 billion, a price-to-earnings ratio of 56.50, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The company has a fifty day moving average price of $338.53 and a 200 day moving average price of $296.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Salesforce 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.