Trust Asset Management LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Trust Asset Management LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,221 shares of the CRM provider’s stock after selling 366 shares during the period. Salesforce accounts for approximately 0.3% of Trust Asset Management LLC’s holdings, making the stock its 27th biggest holding. Trust Asset Management LLC’s holdings in Salesforce were worth $2,953,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter valued at approximately $31,000. BKM Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $34,000. Pacifica Partners Inc. grew its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, AlphaMark Advisors LLC boosted its stake in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. Robert W. Baird upped their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Canaccord Genuity Group restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a report on Thursday, March 7th. Argus increased their target price on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, Citigroup lifted their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research report on Monday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Down 1.1 %

Shares of CRM stock traded down $3.10 during trading hours on Thursday, reaching $273.09. 4,809,033 shares of the company’s stock were exchanged, compared to its average volume of 5,686,380. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71. The stock has a market cap of $264.90 billion, a PE ratio of 65.02, a PEG ratio of 2.13 and a beta of 1.28. The stock’s fifty day moving average price is $296.28 and its two-hundred day moving average price is $263.44.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.01 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $280.79, for a total value of $4,211,850.00. Following the sale, the chief executive officer now owns 13,671,166 shares of the company’s stock, valued at approximately $3,838,726,701.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $280.79, for a total value of $4,211,850.00. Following the transaction, the chief executive officer now owns 13,671,166 shares in the company, valued at approximately $3,838,726,701.14. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $283.12, for a total value of $2,831,200.00. Following the completion of the transaction, the insider now owns 60,416 shares in the company, valued at approximately $17,104,977.92. The disclosure for this sale can be found here. Insiders sold a total of 635,793 shares of company stock worth $186,389,768 in the last three months. 3.70% of the stock is owned by corporate 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.