Cabot Wealth Management Inc. Has $3.64 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Cabot Wealth Management Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,873 shares of the CRM provider’s stock after selling 108 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Salesforce were worth $3,635,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Northland Securities reissued an “outperform” rating and issued a $440.00 price target (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Citigroup boosted their target price on shares of Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a report on Monday, January 6th. Finally, Royal Bank of Canada raised their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One equities research 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 company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $375.53.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,342,415. This trade represents a 11.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,102,833 shares of company stock valued at $381,389,136. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.8 %

CRM stock opened at $309.54 on Friday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a fifty day moving average of $333.34 and a 200-day moving average of $305.72. The company has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 dividend yield of 0.52%. Salesforce’s payout ratio is 26.32%.

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.