State of Alaska Department of Revenue Sells 3,555 Shares of Salesforce, Inc. (NYSE:CRM)

State of Alaska Department of Revenue trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 3.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 109,010 shares of the CRM provider’s stock after selling 3,555 shares during the period. Salesforce accounts for about 0.4% of State of Alaska Department of Revenue’s investment portfolio, making the stock its 29th largest position. State of Alaska Department of Revenue’s holdings in Salesforce were worth $36,445,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter valued at about $27,000. Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Annapolis Financial Services LLC grew its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. FSA Wealth Management LLC acquired a new position in Salesforce during the 3rd quarter valued at $53,000. Finally, Friedenthal Financial bought a new stake in Salesforce in the 4th quarter valued at $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $347.41 on Thursday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a market capitalization of $332.47 billion, a price-to-earnings ratio of 57.14, a P/E/G ratio of 3.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50 day simple moving average is $338.69 and its 200 day simple moving average is $299.31.

Salesforce (NYSE:CRM) last released 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on CRM shares. Oppenheimer reaffirmed an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank increased their price target on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Needham & Company LLC lifted their price objective on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $377.63.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. 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.