TCW Group Inc. Lowers Position in Salesforce, Inc. (NYSE:CRM)

TCW Group Inc. cut its stake in Salesforce, Inc. (NYSE:CRM) by 49.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 282,966 shares of the CRM provider’s stock after selling 281,888 shares during the quarter. TCW Group Inc.’s holdings in Salesforce were worth $94,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. FPC Investment Advisory Inc. grew its holdings in shares of Salesforce by 1,246.7% in the fourth quarter. FPC Investment Advisory Inc. now owns 202 shares of the CRM provider’s stock valued at $69,000 after acquiring an additional 187 shares in the last quarter. Fisher Funds Management LTD bought a new position in shares of Salesforce in the fourth quarter valued at approximately $58,719,000. First Horizon Advisors Inc. grew its holdings in shares of Salesforce by 3.3% in the fourth quarter. First Horizon Advisors Inc. now owns 19,451 shares of the CRM provider’s stock valued at $6,503,000 after acquiring an additional 621 shares in the last quarter. Pinnacle Financial Partners Inc grew its holdings in shares of Salesforce by 0.5% in the fourth quarter. Pinnacle Financial Partners Inc now owns 156,110 shares of the CRM provider’s stock valued at $48,142,000 after acquiring an additional 702 shares in the last quarter. Finally, Sigma Planning Corp grew its holdings in shares of Salesforce by 2.5% in the fourth quarter. Sigma Planning Corp now owns 25,620 shares of the CRM provider’s stock valued at $8,565,000 after acquiring an additional 617 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 2.8 %

CRM stock opened at $309.54 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average is $333.34 and its 200 day moving average is $305.72. The stock has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company posted $1.62 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,833 shares of company stock worth $381,389,136 over the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CRM. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Piper Sandler set a $405.00 price objective on Salesforce in a report on Tuesday, January 21st. DA Davidson increased their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Wells Fargo & Company increased their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Finally, Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $375.53.

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.