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

Catalyst Private Wealth LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 5.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,396 shares of the CRM provider’s stock after selling 127 shares during the quarter. Catalyst Private Wealth LLC’s holdings in Salesforce were worth $801,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CRM. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce during the 3rd quarter worth $1,215,000. Prime Capital Investment Advisors LLC boosted its holdings in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares in the last quarter. Aljian Capital Management LLC grew its position in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares during the period. AIA Group Ltd increased its holdings in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Brian Millham sold 6,161 shares of the business’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares in the company, valued at $280,767.75. This represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,177,617 shares of company stock worth $403,542,975. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $319.39 on Tuesday. The stock has a 50-day moving average price of $336.25 and a two-hundred day moving average price of $290.19. The company has a market cap of $305.66 billion, a PE ratio of 52.53, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analyst Ratings Changes

A number of research firms recently weighed in on CRM. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Oppenheimer reissued an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Wells Fargo & Company lifted their price target on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Macquarie reissued a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Cfra set a $343.00 target price on shares of Salesforce in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $376.05.

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.