Soltis Investment Advisors LLC Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

Soltis Investment Advisors LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 6.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,927 shares of the CRM provider’s stock after selling 187 shares during the quarter. Soltis Investment Advisors LLC’s holdings in Salesforce were worth $801,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth about $27,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC lifted its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. increased its holdings in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of several recent research reports. Loop Capital upped their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. UBS Group upped their price target on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Bank of America increased their price target on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Wedbush boosted their price objective on Salesforce from $325.00 to $375.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Eight equities research analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $372.86.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 138,498 shares of company stock worth $40,983,349. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $354.85 on Thursday. The company has a market cap of $339.59 billion, a P/E ratio of 58.36, a P/E/G ratio of 3.27 and a beta of 1.30. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50-day moving average of $313.09 and a two-hundred day moving average of $273.85.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.45%. The ex-dividend date is Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

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.