Fulcrum Capital LLC Sells 155 Shares of Salesforce, Inc. (NYSE:CRM)

Fulcrum Capital LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 10.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,283 shares of the CRM provider’s stock after selling 155 shares during the period. Fulcrum Capital LLC’s holdings in Salesforce were worth $429,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Forza Wealth Management LLC boosted its position in shares of Salesforce by 9.5% during the fourth quarter. Forza Wealth Management LLC now owns 1,082 shares of the CRM provider’s stock valued at $362,000 after buying an additional 94 shares during the last quarter. Accelerate Investment Advisors LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $206,000. Cooper Financial Group lifted its stake in Salesforce by 4.2% in the fourth quarter. Cooper Financial Group now owns 6,573 shares of the CRM provider’s stock worth $2,198,000 after purchasing an additional 262 shares during the last quarter. Cadent Capital Advisors LLC purchased a new position in Salesforce in the 4th quarter worth about $82,000. Finally, Agate Pass Investment Management LLC increased its stake in shares of Salesforce by 44.3% during the fourth quarter. Agate Pass Investment Management LLC now owns 7,221 shares of the CRM provider’s stock valued at $2,414,000 after buying an additional 2,217 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the transaction, the chief financial officer now owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $0.03 during trading on Monday, reaching $317.88. The company had a trading volume of 2,383,922 shares, compared to its average volume of 4,556,487. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s fifty day moving average price is $335.82 and its 200 day moving average price is $289.73. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $304.21 billion, a price-to-earnings ratio of 52.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. TD Cowen raised their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Loop Capital upped their price objective on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

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.