Salesforce, Inc. (NYSE:CRM) Stock Holdings Lowered by Greystone Financial Group LLC

Greystone Financial Group LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,831 shares of the CRM provider’s stock after selling 55 shares during the quarter. Greystone Financial Group LLC’s holdings in Salesforce were worth $947,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Nvest Financial LLC boosted its stake in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after acquiring an additional 31 shares in the last quarter. OMC Financial Services LTD lifted its holdings in shares of Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC boosted its position in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Prossimo Advisors LLC increased its stake in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its stake in Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after purchasing an additional 33 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $309.54 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a fifty day simple moving average of $333.34 and a 200 day simple moving average of $305.25. 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 company has a market cap of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.63 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its quarterly earnings results 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). The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. On average, sell-side analysts predict 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 given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

A number of research firms have commented on CRM. DA Davidson upped their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Loop Capital reduced their price target on shares of Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a research report on Wednesday. Royal Bank of Canada lifted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Citigroup increased their target price on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $375.53.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,833 shares of company stock worth $381,389,136 over the last three months. 3.20% of the stock is currently owned by insiders.

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.