Salesforce, Inc. (NYSE:CRM) Shares Sold by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 5.0% in the fourth quarter, Holdings Channel reports. The firm owned 2,396 shares of the CRM provider’s stock after selling 127 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Salesforce were worth $801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Veritas Asset Management LLP acquired a new stake in shares of Salesforce during the third quarter worth $733,805,000. Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. KBC Group NV lifted its holdings in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC boosted its position in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after purchasing an additional 998,628 shares during the period. Finally, Farallon Capital Management LLC grew its stake in Salesforce by 51.0% during the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after buying an additional 994,670 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CRM shares. Canaccord Genuity Group boosted their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Cfra set a $343.00 target price on shares of Salesforce in a research note on Thursday, October 17th. UBS Group raised their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. One 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Price Performance

CRM opened at $319.39 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a fifty day moving average of $336.25 and a 200-day moving average of $290.19. The firm has a market capitalization of $305.66 billion, a P/E ratio of 52.53, a PEG 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 firm had revenue of $9.44 billion during 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 business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.62 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,177,617 shares of company stock worth $403,542,975 over the last three months. Corporate insiders own 3.20% of the company’s stock.

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.