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

BIP Wealth LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,327 shares of the CRM provider’s stock after selling 113 shares during the period. BIP Wealth LLC’s holdings in Salesforce were worth $349,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Impact Partnership Wealth LLC increased its stake in Salesforce by 226.5% in the 3rd quarter. Impact Partnership Wealth LLC now owns 320 shares of the CRM provider’s stock worth $65,000 after purchasing an additional 222 shares in the last quarter. DAVENPORT & Co LLC increased its stake in Salesforce by 25.7% in the 3rd quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock worth $894,000 after purchasing an additional 901 shares in the last quarter. Proficio Capital Partners LLC increased its stake in Salesforce by 3.1% in the 3rd quarter. Proficio Capital Partners LLC now owns 1,840 shares of the CRM provider’s stock worth $373,000 after purchasing an additional 56 shares in the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in Salesforce in the 3rd quarter worth about $237,000. Finally, Capital Asset Advisory Services LLC acquired a new stake in Salesforce during the 3rd quarter worth about $226,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $280.79, for a total value of $4,211,850.00. Following the completion of the sale, the chief executive officer now owns 13,671,166 shares in the company, valued at approximately $3,838,726,701.14. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Friday, January 26th. The stock was sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the sale, the chief executive officer now directly owns 13,671,166 shares of the company’s stock, valued at $3,838,726,701.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 616,589 shares of company stock valued at $181,071,306. 3.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. Wolfe Research restated an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a research report on Tuesday, April 16th. Evercore ISI raised their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Wells Fargo & Company raised their price objective on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. BMO Capital Markets raised their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Nine equities research 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. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Trading Down 1.0 %

Shares of NYSE:CRM traded down $2.75 during trading hours on Thursday, hitting $273.44. 2,616,270 shares of the company’s stock traded hands, compared to its average volume of 5,656,646. 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 firm has a market capitalization of $265.24 billion, a P/E ratio of 64.14, a price-to-earnings-growth ratio of 2.13 and a beta of 1.28. The business has a fifty day moving average price of $296.65 and a 200-day moving average price of $263.37. Salesforce, Inc. has a 1 year low of $190.57 and a 1 year 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, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. Equities analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.

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.