Orion Portfolio Solutions LLC Trims Holdings in Salesforce, Inc. (NYSE:CRM)

Orion Portfolio Solutions LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 97,920 shares of the CRM provider’s stock after selling 2,615 shares during the period. Orion Portfolio Solutions LLC’s holdings in Salesforce were worth $25,545,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new stake in Salesforce during the 4th quarter worth approximately $26,000. Signature Resources Capital Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in Salesforce during the 4th quarter worth approximately $31,000. Pacifica Partners Inc. increased its stake in 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 buying an additional 100 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $34,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Down 2.3 %

Shares of CRM traded down $6.28 during mid-day trading on Friday, hitting $272.29. The company had a trading volume of 8,318,385 shares, compared to its average volume of 5,342,703. The stock has a market cap of $263.58 billion, a PE ratio of 65.10, a P/E/G ratio of 2.51 and a beta of 1.30. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The business’s 50-day simple moving average is $287.38 and its 200-day simple moving average is $273.71.

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. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. Sell-side analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $300.46, for a total transaction of $4,506,900.00. Following the transaction, the chief executive officer now directly owns 13,371,166 shares of the company’s stock, valued at $4,017,500,536.36. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $299.60, for a total transaction of $1,258,320.00. Following the transaction, the insider now directly owns 104,904 shares of the company’s stock, valued at $31,429,238.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $300.46, for a total transaction of $4,506,900.00. Following the completion of the sale, the chief executive officer now directly owns 13,371,166 shares in the company, valued at $4,017,500,536.36. The disclosure for this sale can be found here. Insiders have sold a total of 636,344 shares of company stock valued at $184,877,874 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target on shares of Salesforce in a report on Friday. Wells Fargo & Company lowered their price target on shares of Salesforce from $310.00 to $300.00 and set an “equal weight” rating for the company in a report on Thursday. Wolfe Research reiterated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a report on Tuesday, April 16th. Argus boosted their price target on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Finally, Bank of America boosted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Nine equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.94.

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.