Salesforce, Inc. (NYSE:CRM) is Moreno Evelyn V’s 8th Largest Position

Moreno Evelyn V trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 65.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,283 shares of the CRM provider’s stock after selling 29,029 shares during the period. Salesforce makes up about 1.9% of Moreno Evelyn V’s investment portfolio, making the stock its 8th biggest position. Moreno Evelyn V’s holdings in Salesforce were worth $4,022,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. BKM Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth approximately $34,000. Finally, Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Srinivas Tallapragada sold 2,474 shares of Salesforce stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $295.59, for a total value of $731,289.66. Following the completion of the transaction, the insider now owns 60,416 shares in the company, valued at $17,858,365.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $293.39, for a total value of $4,400,850.00. Following the sale, the chief executive officer now directly owns 13,386,166 shares in the company, valued at approximately $3,927,367,242.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 2,474 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $295.59, for a total transaction of $731,289.66. Following the completion of the sale, the insider now owns 60,416 shares in the company, valued at $17,858,365.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 630,182 shares of company stock valued at $183,257,351. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 1.1 %

Salesforce stock traded down $3.25 during midday trading on Thursday, hitting $280.57. 2,776,060 shares of the stock were exchanged, compared to its average volume of 5,285,161. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a market capitalization of $271.59 billion, a price-to-earnings ratio of 66.93, a PEG ratio of 2.51 and a beta of 1.30. The stock’s 50-day simple moving average is $287.88 and its 200 day simple moving average is $273.68. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.57%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Wedbush boosted their price objective on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Jefferies Financial Group boosted their price objective on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Monday, April 22nd. Evercore ISI boosted their price objective on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a research note on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.94.

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.