Colonial River Investments LLC Trims Stock Position in Salesforce, Inc. (NYSE:CRM)

Colonial River Investments LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 18.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,511 shares of the CRM provider’s stock after selling 574 shares during the quarter. Colonial River Investments LLC’s holdings in Salesforce were worth $840,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter valued at approximately $27,000. Arlington Trust Co LLC increased its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in Salesforce during the fourth quarter valued at approximately $30,000. Asset Planning Inc purchased a new position in Salesforce during the fourth quarter valued at approximately $31,000. Finally, Collier Financial purchased a new position in Salesforce during the fourth quarter valued at approximately $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $167,970.00. Following the completion of the sale, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,114 shares of company stock valued at $381,142,656 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRM shares. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Thursday, February 6th. Finally, Wells Fargo & Company lifted their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. One investment 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Salesforce Trading Down 2.8 %

Shares of Salesforce stock opened at $309.54 on Monday. The firm has a 50-day simple moving average of $333.34 and a two-hundred day simple moving average of $306.18. The company has a market cap of $296.23 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

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

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend 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.