Salesforce, Inc. (NYSE:CRM) Shares Sold by Founders Financial Alliance LLC

Founders Financial Alliance LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,031 shares of the CRM provider’s stock after selling 78 shares during the period. Founders Financial Alliance LLC’s holdings in Salesforce were worth $271,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the 4th quarter worth about $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. BKM Wealth Management LLC purchased a new position in Salesforce in the 4th quarter worth approximately $34,000. Finally, Pacifica Partners Inc. lifted its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Srinivas Tallapragada sold 2,474 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 60,416 shares of the company’s stock, valued at $17,858,365.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Srinivas Tallapragada sold 2,474 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $295.59, for a total transaction of $731,289.66. Following the transaction, the insider now directly owns 60,416 shares in the company, valued at $17,858,365.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $285.00, for a total transaction of $4,275,000.00. Following the transaction, the chief executive officer now owns 12,482,327 shares in the company, valued at $3,557,463,195. The disclosure for this sale can be found here. Over the last three months, insiders sold 636,344 shares of company stock valued at $184,877,874. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM traded down $6.28 on Friday, reaching $272.29. The company had a trading volume of 8,325,132 shares, compared to its average volume of 3,819,083. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market capitalization of $263.58 billion, a PE ratio of 64.83, a P/E/G ratio of 2.46 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. The stock has a 50-day moving average price of $286.94 and a 200-day moving average price of $274.60.

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 firm had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $1.01 earnings per share. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date of this dividend 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 presently 9.52%.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Mizuho reissued a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Oppenheimer lifted their price target on shares of Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Wedbush lifted their price target on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Robert W. Baird lifted their price target on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Finally, Jefferies Financial Group lifted their price target on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.