Tobam Sells 492 Shares of Salesforce, Inc. (NYSE:CRM)

Tobam trimmed its position in Salesforce, Inc. (NYSE:CRM) by 23.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,649 shares of the CRM provider’s stock after selling 492 shares during the period. Tobam’s holdings in Salesforce were worth $434,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pointe Capital Management LLC grew its position in Salesforce by 370.0% in the 2nd quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after purchasing an additional 1,221 shares in the last quarter. Walkner Condon Financial Advisors LLC grew its position in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after acquiring an additional 74 shares during the period. Procyon Advisors LLC grew its position in shares of Salesforce by 72.3% during the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock valued at $5,978,000 after acquiring an additional 12,371 shares during the period. Pure Financial Advisors LLC bought a new position in shares of Salesforce during the 4th quarter valued at approximately $214,000. Finally, Riversedge Advisors LLC grew its position in shares of Salesforce by 21.7% during the 3rd quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock valued at $477,000 after acquiring an additional 420 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $302.37 on Wednesday. The firm has a 50 day moving average of $297.97 and a 200 day moving average of $257.79. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $293.30 billion, a price-to-earnings ratio of 71.99, a price-to-earnings-growth ratio of 2.32 and a beta of 1.28. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71.

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

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. Salesforce’s payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research reports. Needham & Company LLC increased their target price on shares of Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Wells Fargo & Company raised their price objective on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $290.00 to $350.00 in a report on Thursday, December 21st. BMO Capital Markets raised their price objective on shares of Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a report on Wednesday, April 3rd. Nine investment 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.97.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $302.03, for a total transaction of $4,530,450.00. Following the completion of the transaction, the chief executive officer now owns 12,936,166 shares in the company, valued at $3,907,110,216.98. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $302.03, for a total value of $4,530,450.00. Following the sale, the chief executive officer now owns 12,936,166 shares of the company’s stock, valued at $3,907,110,216.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 293,965 shares of the stock in a transaction on Friday, January 19th. The shares were sold at an average price of $280.00, for a total transaction of $82,310,200.00. The disclosure for this sale can be found here. Insiders sold a total of 903,175 shares of company stock worth $260,851,046 over the last three months. 3.70% of the stock is currently owned by company insiders.

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.