Salesforce, Inc. (NYSE:CRM) Stock Holdings Reduced by FourThought Financial Partners LLC

FourThought Financial Partners LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,364 shares of the CRM provider’s stock after selling 2,990 shares during the period. FourThought Financial Partners LLC’s holdings in Salesforce were worth $6,674,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. TCG Advisory Services LLC raised its stake in shares of Salesforce by 1,442.3% in the 4th quarter. TCG Advisory Services LLC now owns 70,577 shares of the CRM provider’s stock valued at $18,572,000 after acquiring an additional 66,001 shares in the last quarter. Charles Carroll Financial Partners LLC grew its holdings in Salesforce by 102.7% during the fourth quarter. Charles Carroll Financial Partners LLC now owns 7,600 shares of the CRM provider’s stock valued at $2,000,000 after purchasing an additional 3,850 shares during the last quarter. AJOVista LLC bought a new position in shares of Salesforce in the fourth quarter valued at approximately $204,000. Baxter Bros Inc. lifted its stake in shares of Salesforce by 7.0% in the fourth quarter. Baxter Bros Inc. now owns 2,029 shares of the CRM provider’s stock worth $534,000 after buying an additional 133 shares during the last quarter. Finally, Provence Wealth Management Group boosted its holdings in shares of Salesforce by 15.0% during the 4th quarter. Provence Wealth Management Group now owns 2,403 shares of the CRM provider’s stock worth $632,000 after buying an additional 313 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CRM shares. Jefferies Financial Group boosted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, April 22nd. UBS Group increased their target price on Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. lifted their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Robert W. Baird raised their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Evercore ISI upped their target price on shares of Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Insiders Place Their Bets

In other news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction on Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the sale, the insider now directly owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Srinivas Tallapragada sold 10,000 shares of the business’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 sale, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,230,643.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.82, for a total transaction of $4,287,300.00. Following the completion of the transaction, the chief executive officer now directly owns 13,581,166 shares in the company, valued at $3,881,768,866.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 629,993 shares of company stock valued at $184,255,474. 3.70% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

CRM traded up $1.53 during trading on Friday, hitting $273.66. The company’s stock had a trading volume of 4,041,636 shares, compared to its average volume of 5,219,539. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $264.90 billion, a price-to-earnings ratio of 65.16, a price-to-earnings-growth ratio of 2.09 and a beta of 1.30. The firm’s 50 day moving average price is $294.23 and its two-hundred day moving average price is $266.17. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

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.