Salesforce, Inc. (NYSE:CRM) Shares Sold by Bfsg LLC

Bfsg LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,066 shares of the CRM provider’s stock after selling 246 shares during the quarter. Bfsg LLC’s holdings in Salesforce were worth $1,070,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Harvest Fund Management Co. Ltd raised its stake in Salesforce by 53.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 5,859 shares of the CRM provider’s stock valued at $1,542,000 after purchasing an additional 2,035 shares during the period. Mizuho Securities Co. Ltd. raised its position in shares of Salesforce by 733.3% during the fourth quarter. Mizuho Securities Co. Ltd. now owns 2,500 shares of the CRM provider’s stock valued at $658,000 after buying an additional 2,200 shares during the last quarter. Madison Park Capital Advisors LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $406,000. Schnieders Capital Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $325,000. Finally, Fountainhead AM LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $419,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CRM. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Citigroup raised their price objective on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Wolfe Research reaffirmed an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research note on Tuesday, April 16th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. Finally, JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Stock Performance

Shares of CRM traded down $0.49 during trading hours on Wednesday, hitting $276.19. The company’s stock had a trading volume of 3,930,929 shares, compared to its average volume of 5,697,396. The company has a market cap of $267.90 billion, a price-to-earnings ratio of 66.03, a PEG ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The business has a 50 day simple moving average of $296.91 and a two-hundred day simple moving average of $263.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71.

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

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. 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 that occurred on Friday, April 19th. The stock was 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 of the company’s stock, valued at $3,475,435,977.38. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 616,589 shares of company stock valued at $181,071,306. Corporate insiders own 3.70% of the company’s stock.

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.