Salesforce, Inc. (NYSE:CRM) Shares Sold by Amalgamated Bank

Amalgamated Bank cut its position in Salesforce, Inc. (NYSE:CRM) by 4.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 239,227 shares of the CRM provider’s stock after selling 12,012 shares during the quarter. Salesforce comprises 0.5% of Amalgamated Bank’s holdings, making the stock its 24th largest position. Amalgamated Bank’s holdings in Salesforce were worth $62,950,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. 1834 Investment Advisors Co. increased its position in shares of Salesforce by 12.1% during the 3rd quarter. 1834 Investment Advisors Co. now owns 4,075 shares of the CRM provider’s stock valued at $826,000 after purchasing an additional 440 shares during the period. Simon Quick Advisors LLC lifted its position in Salesforce by 10.1% in the third quarter. Simon Quick Advisors LLC now owns 2,885 shares of the CRM provider’s stock worth $585,000 after purchasing an additional 265 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Salesforce by 13.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 35,960 shares of the CRM provider’s stock valued at $7,292,000 after purchasing an additional 4,313 shares during the last quarter. First United Bank & Trust boosted its position in Salesforce by 2.3% in the 3rd quarter. First United Bank & Trust now owns 4,182 shares of the CRM provider’s stock valued at $848,000 after buying an additional 95 shares during the last quarter. Finally, Talbot Financial LLC grew its stake in shares of Salesforce by 1.5% during the third quarter. Talbot Financial LLC now owns 56,266 shares of the CRM provider’s stock worth $11,410,000 after purchasing an additional 812 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CRM shares. Jefferies Financial Group lifted their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Robert W. Baird raised their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Wolfe Research reissued an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

Salesforce stock traded up $3.44 during mid-day trading on Thursday, reaching $272.13. The company’s stock had a trading volume of 3,646,366 shares, compared to its average volume of 5,574,261. The firm has a market cap of $263.97 billion, a price-to-earnings ratio of 64.47, a PEG ratio of 2.07 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The business has a 50 day moving average price of $295.04 and a 200-day moving average price of $265.67. 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 (NYSE:CRM) last released its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the sale, the insider now owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The disclosure for this sale can be found here. Insiders sold 614,993 shares of company stock valued at $180,212,524 over the last three months. Company insiders own 3.70% of the company’s stock.

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.