Salesforce, Inc. (NYSE:CRM) Shares Sold by Geneva Partners LLC

Geneva Partners LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,080 shares of the CRM provider’s stock after selling 150 shares during the period. Geneva Partners LLC’s holdings in Salesforce were worth $1,074,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of CRM. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the 4th quarter valued at $26,000. Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the period. BKM Wealth Management LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at about $34,000. GHP Investment Advisors Inc. increased its stake in shares of Salesforce by 30.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new position in shares of Salesforce during the 4th quarter worth about $36,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 0.5 %

Shares of NYSE CRM traded down $1.47 during midday trading on Friday, hitting $270.45. The company’s stock had a trading volume of 4,906,818 shares, compared to its average volume of 5,698,991. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market capitalization of $262.34 billion, a price-to-earnings ratio of 64.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The business’s fifty day simple moving average is $297.28 and its two-hundred day simple moving average is $261.43. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the company posted $1.01 EPS. The firm’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts predict that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at $799,618.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $276.83, for a total value of $4,152,450.00. Following the sale, the chief executive officer now directly owns 12,857,327 shares of the company’s stock, valued at $3,559,293,833.41. The disclosure for this sale can be found here. Insiders have sold 628,184 shares of company stock valued at $184,794,698 in the last quarter. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Argus boosted their price objective on Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a report on Thursday, March 7th. Wedbush upped their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Monday. Nine research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $307.87.

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.