Salesforce, Inc. (NYSE:CRM) Shares Sold by Retireful LLC

Retireful LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 7.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,829 shares of the CRM provider’s stock after selling 244 shares during the quarter. Retireful LLC’s holdings in Salesforce were worth $946,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce in the second quarter valued at about $33,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC grew its holdings in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC acquired a new position in Salesforce in the 3rd quarter valued at about $53,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Loop Capital upped their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Finally, Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

Insiders Place Their Bets

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total transaction of $1,213,044.00. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at $34,229,213.48. This represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock valued at $405,595,158 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 0.1 %

CRM opened at $320.99 on Friday. The firm has a market cap of $307.18 billion, a P/E ratio of 52.79, a PEG ratio of 2.87 and a beta of 1.30. The business’s fifty day simple moving average is $337.05 and its 200 day simple moving average is $290.87. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. 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 (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

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.