Amica Mutual Insurance Co. Sells 4,984 Shares of Salesforce, Inc. (NYSE:CRM)

Amica Mutual Insurance Co. lessened its position in Salesforce, Inc. (NYSE:CRM) by 8.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 52,873 shares of the CRM provider’s stock after selling 4,984 shares during the period. Salesforce makes up 1.5% of Amica Mutual Insurance Co.’s holdings, making the stock its 9th largest position. Amica Mutual Insurance Co.’s holdings in Salesforce were worth $13,913,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce during the fourth quarter valued at $31,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% during 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 last quarter. BKM Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $34,000. Finally, AlphaMark Advisors LLC increased its stake in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. Argus boosted their target price on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Piper Sandler reissued a “neutral” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday, April 22nd. Mizuho restated a “buy” rating and set a $345.00 price target (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, Oppenheimer upped their price objective on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Nine equities 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, April 19th. The shares were sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Salesforce news, COO Brian Millham sold 4,204 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total transaction of $1,168,712.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Friday, April 19th. The shares were sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the sale, the chief executive officer now owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 610,793 shares of company stock worth $179,197,018. 3.70% of the stock is owned by corporate insiders.

Salesforce Stock Performance

CRM stock traded up $1.57 on Monday, reaching $275.86. 3,608,431 shares of the company were exchanged, compared to its average volume of 5,637,167. The firm has a market capitalization of $267.58 billion, a PE ratio of 65.68, a PEG ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71. The stock’s fifty day moving average price is $295.69 and its 200 day moving average price is $265.20. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the business posted $1.01 EPS. The business’s quarterly revenue was up 10.8% on a year-over-year basis. On average, research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

Salesforce Company 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.