Salesforce, Inc. (NYSE:CRM) Shares Sold by Boomfish Wealth Group LLC

Boomfish Wealth Group LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 4.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,891 shares of the CRM provider’s stock after selling 421 shares during the period. Salesforce makes up 1.8% of Boomfish Wealth Group LLC’s holdings, making the stock its 12th largest position. Boomfish Wealth Group LLC’s holdings in Salesforce were worth $2,973,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CRM. Veritas Asset Management LLP acquired a new position in shares of Salesforce in the 3rd quarter valued at $733,805,000. Swedbank AB increased its position in shares of Salesforce by 46.7% in the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after acquiring an additional 1,219,254 shares in the last quarter. KBC Group NV lifted its position 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 valued at $447,470,000 after acquiring an additional 1,032,068 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares during the period. Finally, State Street Corp grew its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,108,669 shares of company stock worth $383,286,905. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research analyst reports. Needham & Company LLC increased their target price on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. Oppenheimer reiterated an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. UBS Group raised their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. DA Davidson upped their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Price Performance

CRM stock opened at $343.51 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The stock has a market capitalization of $328.74 billion, a PE ratio of 56.50, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The company’s 50-day moving average is $338.53 and its 200-day moving average is $296.43. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Salesforce 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.