Salesforce, Inc. (NYSE:CRM) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 206,100 shares of the CRM provider’s stock after selling 2,977 shares during the quarter. Salesforce accounts for approximately 0.6% of Amalgamated Bank’s investment portfolio, making the stock its 22nd biggest position. Amalgamated Bank’s holdings in Salesforce were worth $68,905,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter worth about $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the transaction, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,572 shares of company stock valued at $381,283,706 over the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $308.27 on Tuesday. The business’s 50-day moving average price is $332.36 and its two-hundred day moving average price is $306.60. 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, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $295.01 billion, a P/E ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last issued 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 net margin of 15.96% and a return on equity of 12.34%. The firm 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 earned $1.62 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a $0.40 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research note on Monday, January 6th. Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating for the company. BMO Capital Markets lowered their target price on Salesforce from $425.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday. Finally, KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $375.53.

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.