Salesforce, Inc. (NYSE:CRM) Shares Sold by Beacon Financial Advisory LLC

Beacon Financial Advisory LLC decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,101 shares of the CRM provider’s stock after selling 71 shares during the period. Beacon Financial Advisory LLC’s holdings in Salesforce were worth $703,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CRM. Veritas Asset Management LLP acquired a new position in shares of Salesforce during the third quarter worth about $733,805,000. Jennison Associates LLC increased its stake in Salesforce by 52.7% in the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock valued at $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB raised its stake in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after acquiring an additional 1,219,254 shares during the last quarter. KBC Group NV lifted its stake 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 acquiring an additional 1,032,068 shares during the period. Finally, International Assets Investment Management LLC grew its holdings in Salesforce by 23,664.2% during the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after acquiring an additional 998,628 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 over the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM opened at $347.41 on Thursday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market capitalization of $332.47 billion, a price-to-earnings ratio of 57.14, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. The business has a 50 day moving average price of $338.69 and a two-hundred day moving average price of $299.31. 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 issued 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). The business had revenue of $9.44 billion during 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%. Salesforce’s revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several research reports. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. UBS Group upped their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Macquarie reiterated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, BMO Capital Markets lifted their price objective on Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.