Salesforce, Inc. (NYSE:CRM) Stake Trimmed by Connable Office Inc.

Connable Office Inc. lowered its stake in Salesforce, Inc. (NYSE:CRM) by 1.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,463 shares of the CRM provider’s stock after selling 145 shares during the quarter. Connable Office Inc.’s holdings in Salesforce were worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the 3rd quarter worth about $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth about $32,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $297.63 on Friday. The business’s fifty day moving average price is $329.11 and its two-hundred day moving average price is $307.21. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $284.83 billion, a price-to-earnings ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 EPS. As a group, analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 25.16%.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the transaction, the insider now directly owns 120,333 shares in the company, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Needham & Company LLC restated a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research report on Thursday. Canaccord Genuity Group reduced their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday. Scotiabank reduced their price target on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a report on Thursday. Redburn Atlantic initiated coverage on Salesforce in a report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Macquarie reduced their price target on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $365.32.

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.