TRUE Private Wealth Advisors Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

TRUE Private Wealth Advisors trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 7.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,905 shares of the CRM provider’s stock after selling 489 shares during the quarter. TRUE Private Wealth Advisors’ holdings in Salesforce were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. State Street Corp increased its stake in shares of Salesforce by 0.9% in the 1st quarter. State Street Corp now owns 45,509,345 shares of the CRM provider’s stock worth $9,091,832,000 after acquiring an additional 391,648 shares in the last quarter. Morgan Stanley increased its stake in shares of Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock worth $2,519,719,000 after acquiring an additional 149,012 shares in the last quarter. Northern Trust Corp increased its stake in shares of Salesforce by 1.1% in the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock worth $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Norges Bank bought a new position in shares of Salesforce in the 4th quarter worth about $1,420,381,000. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Salesforce by 125,717.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock worth $1,360,428,000 after acquiring an additional 10,252,257 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CRM shares. Argus raised their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Oppenheimer raised their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Citigroup raised their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Finally, KeyCorp assumed coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.87.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $274.01, for a total transaction of $4,110,150.00. Following the completion of the sale, the chief executive officer now directly owns 13,761,166 shares of the company’s stock, valued at $3,770,697,095.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $274.01, for a total value of $4,110,150.00. Following the completion of the sale, the chief executive officer now directly owns 13,761,166 shares in the company, valued at $3,770,697,095.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total transaction of $60,201.36. Following the completion of the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at $799,618.99. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 897,375 shares of company stock valued at $260,206,096. 3.70% of the stock is currently owned by company insiders.

Salesforce Trading Up 1.7 %

CRM stock traded up $4.51 during mid-day trading on Wednesday, reaching $277.41. 7,624,347 shares of the stock traded hands, compared to its average volume of 4,686,930. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The stock has a market capitalization of $269.09 billion, a PE ratio of 66.05, a PEG ratio of 2.10 and a beta of 1.28. The business has a 50-day moving average price of $298.35 and a two-hundred day moving average price of $260.79.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 earnings per share. The business’s revenue was up 10.8% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

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

Salesforce 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.