Choreo LLC Reduces Stake in Salesforce, Inc. (NYSE:CRM)

Choreo LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 3.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,336 shares of the CRM provider’s stock after selling 1,595 shares during the period. Choreo LLC’s holdings in Salesforce were worth $15,524,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Nvwm LLC boosted its position in shares of Salesforce by 131.7% during the fourth quarter. Nvwm LLC now owns 5,944 shares of the CRM provider’s stock valued at $1,911,000 after buying an additional 3,379 shares during the period. Money Concepts Capital Corp boosted its position in shares of Salesforce by 17.0% during the fourth quarter. Money Concepts Capital Corp now owns 875 shares of the CRM provider’s stock valued at $293,000 after buying an additional 127 shares during the period. Lion Street Advisors LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $209,000. Quattro Financial Advisors LLC boosted its position in shares of Salesforce by 14.2% during the fourth quarter. Quattro Financial Advisors LLC now owns 330 shares of the CRM provider’s stock valued at $110,000 after buying an additional 41 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Salesforce by 9.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 207,263 shares of the CRM provider’s stock valued at $69,304,000 after buying an additional 17,631 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE CRM opened at $344.07 on Wednesday. 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 $338.69 and its 200 day moving average price is $299.31. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $329.28 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 3.09 and a beta of 1.31.

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

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Robert W. Baird boosted their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and boosted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. BMO Capital Markets boosted their price target on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Northland Securities reiterated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

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.