Cornerstone Wealth Management LLC Sells 437 Shares of Salesforce, Inc. (NYSE:CRM)

Cornerstone Wealth Management LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 10.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,841 shares of the CRM provider’s stock after selling 437 shares during the period. Cornerstone Wealth Management LLC’s holdings in Salesforce were worth $1,284,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter worth $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter worth $33,000. Godsey & Gibb Inc. lifted its holdings in 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 acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted its holdings in 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 acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC bought a new stake in Salesforce during the third quarter worth $53,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on CRM shares. Loop Capital lifted their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Bank of America lifted their price target on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a report on Monday, January 6th. BMO Capital Markets boosted their target price on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Robert W. Baird boosted their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Price Performance

CRM opened at $333.47 on Friday. The stock has a 50-day moving average price of $336.56 and a 200-day moving average price of $293.49. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. 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 stock has a market capitalization of $319.13 billion, a P/E ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 earnings per share. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Insider Activity

In other news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Brian Millham sold 708 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the sale, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This trade represents a 36.36 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,173,891 shares of company stock valued at $402,840,388. Insiders own 3.20% of the company’s stock.

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.