Brown Financial Advisors Sells 398 Shares of Salesforce, Inc. (NYSE:CRM)

Brown Financial Advisors cut its stake in Salesforce, Inc. (NYSE:CRM) by 22.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,341 shares of the CRM provider’s stock after selling 398 shares during the period. Brown Financial Advisors’ holdings in Salesforce were worth $448,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the last quarter. Compass Financial Services Inc purchased a new position in shares of Salesforce during the fourth quarter worth approximately $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new stake in shares of Salesforce in the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of 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 quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $295.01 billion, a P/E ratio of 50.70, a P/E/G ratio of 2.58 and a beta of 1.31. The business’s 50 day moving average price is $332.36 and its 200-day moving average price is $306.60.

Salesforce (NYSE:CRM) last released its 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed 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. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. Salesforce’s dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,102,572 shares of company stock valued at $381,283,706. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Jefferies Financial Group upped their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Truist Financial reissued a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, Barclays lifted their target price on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

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.