Bryn Mawr Capital Management LLC Sells 809 Shares of Salesforce, Inc. (NYSE:CRM)

Bryn Mawr Capital Management LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 12.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,564 shares of the CRM provider’s stock after selling 809 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Salesforce were worth $1,860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Nvest Financial LLC lifted its position in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the last quarter. OMC Financial Services LTD raised its stake in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC lifted its holdings in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the last quarter. Prossimo Advisors LLC boosted its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares in the last quarter. Finally, Aviance Capital Partners LLC grew its holdings in shares of Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. The Goldman Sachs Group increased their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Northland Securities reissued an “outperform” rating and set a $440.00 price objective (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. UBS Group boosted their price objective on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 target price on shares of Salesforce in a research report on Thursday, February 6th. Finally, Canaccord Genuity Group boosted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $376.84.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,102,833 shares of company stock worth $381,389,136. 3.20% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $318.76 on Friday. The firm has a market capitalization of $305.06 billion, a P/E ratio of 52.43, a P/E/G ratio of 2.64 and a beta of 1.31. The firm’s 50-day moving average price is $334.23 and its 200-day moving average price is $304.76. 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 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 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.