Salesforce, Inc. (NYSE:CRM) Shares Sold by Boyd Watterson Asset Management LLC OH

Boyd Watterson Asset Management LLC OH reduced its position in Salesforce, Inc. (NYSE:CRM) by 0.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,072 shares of the CRM provider’s stock after selling 48 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Salesforce were worth $1,861,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Marks Group Wealth Management Inc boosted its stake in shares of Salesforce by 0.7% in the 4th quarter. Marks Group Wealth Management Inc now owns 35,220 shares of the CRM provider’s stock valued at $9,268,000 after buying an additional 257 shares during the period. Walkner Condon Financial Advisors LLC boosted its stake in shares of Salesforce by 2.9% in the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the period. Roman Butler Fullerton & Co. boosted its stake in shares of Salesforce by 1.4% in the 4th quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock valued at $2,206,000 after buying an additional 105 shares during the period. Pure Financial Advisors LLC purchased a new position in shares of Salesforce in the 4th quarter valued at about $214,000. Finally, Riversedge Advisors LLC lifted its stake in Salesforce by 21.7% during the third quarter. Riversedge Advisors LLC now owns 2,353 shares of the CRM provider’s stock worth $477,000 after purchasing an additional 420 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE CRM traded up $1.15 during mid-day trading on Friday, hitting $274.29. The company had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The firm’s 50 day simple moving average is $295.97 and its two-hundred day simple moving average is $263.90. 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 stock has a market cap of $266.06 billion, a price-to-earnings ratio of 65.29, a PEG ratio of 2.10 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly 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. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

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

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, April 19th. The stock was sold at an average price of $270.94, for a total value of $4,064,100.00. Following the transaction, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 620,793 shares of company stock worth $182,177,918 in the last three months. 3.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on CRM. Piper Sandler restated a “neutral” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, April 15th. Canaccord Genuity Group reiterated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Citigroup boosted their price objective on Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. Nine 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $310.61.

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.