Sigma Planning Corp Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

Sigma Planning Corp cut its position in Salesforce, Inc. (NYSE:CRM) by 60.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,555 shares of the CRM provider’s stock after selling 17,612 shares during the quarter. Sigma Planning Corp’s holdings in Salesforce were worth $3,041,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Salesforce Trading Down 0.6 %

Shares of CRM traded down $1.55 during trading hours on Friday, reaching $270.37. 4,913,553 shares of the company traded hands, compared to its average volume of 4,856,009. The company’s fifty day moving average price is $297.28 and its two-hundred day moving average price is $261.86. The company has a market capitalization of $262.26 billion, a price-to-earnings ratio of 64.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12 month low of $190.57 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 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 company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.01 EPS. Salesforce’s revenue was up 10.8% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. 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 currently 9.52%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Wells Fargo & Company lifted their target price on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Bank of America lifted their target price on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Mizuho reiterated a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Finally, TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. 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.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $307.87.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 7,074 shares of Salesforce stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the transaction, the chief financial officer now directly owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $276.83, for a total value of $4,152,450.00. Following the completion of the transaction, the chief executive officer now directly owns 12,857,327 shares of the company’s stock, valued at $3,559,293,833.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 7,074 shares of Salesforce stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the transaction, the chief financial officer now directly owns 38,993 shares of the company’s stock, valued at $11,074,012. The disclosure for this sale can be found here. Insiders sold a total of 628,184 shares of company stock valued at $184,794,698 in the last three months. Company insiders own 3.70% of the company’s stock.

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.