Kapstone Financial Advisors LLC Sells 124 Shares of Salesforce, Inc. (NYSE:CRM)

Kapstone Financial Advisors LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,408 shares of the CRM provider’s stock after selling 124 shares during the period. Kapstone Financial Advisors LLC’s holdings in Salesforce were worth $852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its holdings in Salesforce by 15.0% during the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after acquiring an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc acquired a new position in Salesforce during the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC increased its position in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Athena Investment Management acquired a new position in Salesforce during the fourth quarter worth approximately $236,000. Finally, Aljian Capital Management LLC increased its position in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock worth $381,283,706. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent analyst reports. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Scotiabank lowered their price target on Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research report on Thursday, February 27th. Guggenheim reaffirmed a “sell” rating and issued a $247.00 target price on shares of Salesforce in a research report on Thursday, February 27th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $365.32.

Salesforce Stock Performance

NYSE CRM opened at $292.60 on Tuesday. The company has a market capitalization of $280.02 billion, a price-to-earnings ratio of 48.13, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a fifty day simple moving average of $328.10 and a 200 day simple moving average of $308.16. 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 earnings per share 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 business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the business posted $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued 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 0.55%. Salesforce’s payout ratio is currently 25.16%.

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.