Bey Douglas LLC Has $5.19 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Bey Douglas LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 15,522 shares of the CRM provider’s stock after selling 67 shares during the period. Salesforce makes up approximately 4.5% of Bey Douglas LLC’s holdings, making the stock its 10th biggest position. Bey Douglas LLC’s holdings in Salesforce were worth $5,189,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. RBA Wealth Management LLC grew its position in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after purchasing an additional 574 shares during the period. Creative Planning grew its holdings in shares of Salesforce by 8.0% in the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after acquiring an additional 17,350 shares during the period. Wolff Wiese Magana LLC increased its position in Salesforce by 1.3% during the third quarter. Wolff Wiese Magana LLC now owns 3,235 shares of the CRM provider’s stock valued at $885,000 after acquiring an additional 42 shares during the last quarter. AAFMAA Wealth Management & Trust LLC lifted its holdings in Salesforce by 2.3% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 8,119 shares of the CRM provider’s stock valued at $2,222,000 after acquiring an additional 186 shares during the period. Finally, Alliance Wealth Advisors LLC boosted its position in Salesforce by 9.5% in the third quarter. Alliance Wealth Advisors LLC now owns 1,927 shares of the CRM provider’s stock worth $527,000 after purchasing an additional 167 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $15,705,195. This represents a 11.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,111,420 shares of company stock worth $384,366,700. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

CRM has been the subject of several research reports. Morgan Stanley upped their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. upped their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. 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. Needham & Company LLC restated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 6th. Finally, Wedbush reiterated an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Up 1.2 %

Shares of NYSE:CRM opened at $330.19 on Friday. The company has a 50-day moving average price of $337.91 and a 200 day moving average price of $302.13. The company has a current ratio of 1.11, a quick 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 company has a market cap of $315.99 billion, a price-to-earnings ratio of 54.31, a PEG ratio of 2.66 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the firm posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Salesforce Company 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.