WealthShield Partners LLC Sells 642 Shares of Salesforce, Inc. (NYSE:CRM)

WealthShield Partners LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 7.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,562 shares of the CRM provider’s stock after selling 642 shares during the quarter. WealthShield Partners LLC’s holdings in Salesforce were worth $2,866,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Nvest Financial LLC raised its stake in shares of Salesforce by 1.1% in the fourth 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 period. OMC Financial Services LTD grew its position in shares of 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 purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares in the last quarter. Sachetta LLC grew its position in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after purchasing an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC grew its position in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 2.8 %

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

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $1.62 earnings per share. Analysts expect 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. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analyst Ratings Changes

CRM has been the subject of several research analyst reports. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Loop Capital cut their target price on Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a research report on Wednesday, February 19th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and increased their target price for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Northland Securities restated an “outperform” rating and set a $440.00 price target (up previously from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Citigroup raised their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $375.53.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,102,114 shares of company stock valued at $381,142,656. 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.