Salesforce, Inc. (NYSE:CRM) Shares Sold by AAFMAA Wealth Management & Trust LLC

AAFMAA Wealth Management & Trust LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 17.9% in the 4th quarter, HoldingsChannel reports. The fund owned 6,663 shares of the CRM provider’s stock after selling 1,456 shares during the period. Salesforce accounts for approximately 1.0% of AAFMAA Wealth Management & Trust LLC’s holdings, making the stock its 29th largest holding. AAFMAA Wealth Management & Trust LLC’s holdings in Salesforce were worth $2,228,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Grandview Asset Management LLC increased its position in shares of Salesforce by 8.1% during the 4th quarter. Grandview Asset Management LLC now owns 6,682 shares of the CRM provider’s stock valued at $2,234,000 after purchasing an additional 498 shares during the period. Marcum Wealth LLC boosted its stake in Salesforce by 6.6% during the fourth quarter. Marcum Wealth LLC now owns 3,337 shares of the CRM provider’s stock valued at $1,116,000 after buying an additional 208 shares in the last quarter. Gunderson Capital Management Inc. acquired a new position in Salesforce during the fourth quarter worth about $4,009,000. Traveka Wealth LLC raised its position in Salesforce by 15.1% in the fourth quarter. Traveka Wealth LLC now owns 2,297 shares of the CRM provider’s stock worth $768,000 after acquiring an additional 301 shares in the last quarter. Finally, Unique Wealth LLC lifted its holdings in Salesforce by 12.4% in the 4th quarter. Unique Wealth LLC now owns 7,839 shares of the CRM provider’s stock valued at $2,621,000 after acquiring an additional 867 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $319.39 on Tuesday. The firm has a market capitalization of $305.66 billion, a PE ratio of 52.53, a PEG ratio of 3.21 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm’s fifty day simple moving average is $336.25 and its 200 day simple moving average is $290.19.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 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%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRM. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research report on Monday, January 6th. Oppenheimer restated an “outperform” rating and issued a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Jefferies Financial Group upped their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company lifted their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $376.05.

Insider Buying and Selling

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,177,617 shares of company stock valued at $403,542,975. 3.20% of the stock is owned by company insiders.

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.