Salesforce, Inc. (NYSE:CRM) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 36.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 17,036 shares of the CRM provider’s stock after selling 9,733 shares during the quarter. FourThought Financial Partners LLC’s holdings in Salesforce were worth $5,696,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in CRM. EdgeRock Capital LLC increased its position in shares of Salesforce by 16.5% in the 4th quarter. EdgeRock Capital LLC now owns 1,102 shares of the CRM provider’s stock valued at $368,000 after purchasing an additional 156 shares during the last quarter. Transcendent Capital Group LLC increased its stake in Salesforce by 525.9% in the fourth quarter. Transcendent Capital Group LLC now owns 1,496 shares of the CRM provider’s stock valued at $500,000 after purchasing an additional 1,257 shares during the period. Trifecta Capital Advisors LLC boosted its holdings in shares of Salesforce by 3.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 24,071 shares of the CRM provider’s stock valued at $8,048,000 after acquiring an additional 771 shares in the last quarter. Millington Financial Advisors LLC boosted its holdings in shares of Salesforce by 16.3% in the fourth quarter. Millington Financial Advisors LLC now owns 5,618 shares of the CRM provider’s stock valued at $1,906,000 after acquiring an additional 789 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Salesforce by 0.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock valued at $2,369,000 after acquiring an additional 35 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Wedbush reissued an “outperform” rating and set a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. DA Davidson upped their price target on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada boosted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Morgan Stanley upped their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, Loop Capital reduced their price objective on shares of Salesforce from $360.00 to $330.00 and set a “hold” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Stock Performance

NYSE CRM opened at $308.27 on Tuesday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a 50-day simple moving average of $332.36 and a 200 day simple moving average of $306.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $295.01 billion, a PE ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the business earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock worth $381,283,706 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.