Bogart Wealth LLC Sells 4,649 Shares of Salesforce, Inc. (NYSE:CRM)

Bogart Wealth LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 10.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,067 shares of the CRM provider’s stock after selling 4,649 shares during the quarter. Salesforce makes up 0.7% of Bogart Wealth LLC’s investment portfolio, making the stock its 29th largest position. Bogart Wealth LLC’s holdings in Salesforce were worth $14,064,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Catalyst Financial Partners LLC raised its holdings in shares of Salesforce by 4.2% in the 4th quarter. Catalyst Financial Partners LLC now owns 5,219 shares of the CRM provider’s stock valued at $1,745,000 after acquiring an additional 210 shares in the last quarter. Mcrae Capital Management Inc. raised its holdings in shares of Salesforce by 9.3% in the 4th quarter. Mcrae Capital Management Inc. now owns 46,227 shares of the CRM provider’s stock valued at $15,455,000 after acquiring an additional 3,923 shares in the last quarter. Asset Management One Co. Ltd. raised its holdings in shares of Salesforce by 0.9% in the 4th quarter. Asset Management One Co. Ltd. now owns 492,037 shares of the CRM provider’s stock valued at $166,510,000 after acquiring an additional 4,481 shares in the last quarter. Guardian Asset Advisors LLC raised its holdings in shares of Salesforce by 7.7% in the 4th quarter. Guardian Asset Advisors LLC now owns 1,604 shares of the CRM provider’s stock valued at $537,000 after acquiring an additional 114 shares in the last quarter. Finally, Aljian Capital Management LLC raised its holdings in shares of Salesforce by 24.4% in the 4th quarter. Aljian Capital Management LLC now owns 16,499 shares of the CRM provider’s stock valued at $5,516,000 after acquiring an additional 3,241 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 652 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $216,646.56. Following the completion of the sale, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 1.2 %

NYSE CRM opened at $330.19 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $315.99 billion, a PE ratio of 54.31, a P/E/G ratio of 2.66 and a beta of 1.31. The stock’s 50 day moving average is $337.91 and its 200 day moving average is $302.13.

Salesforce (NYSE:CRM) last released its quarterly 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm 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 firm earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. Scotiabank raised their price objective on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Piper Sandler reissued an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.