Choreo LLC Has $15.52 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Choreo LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,336 shares of the CRM provider’s stock after selling 1,595 shares during the period. Choreo LLC’s holdings in Salesforce were worth $15,524,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth approximately $27,000. Godsey & Gibb Inc. boosted its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its holdings in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new position in Salesforce in the third quarter worth approximately $53,000. Finally, Friedenthal Financial bought a new position in shares of Salesforce in the fourth quarter valued at approximately $55,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the sale, the chief financial officer now directly owns 45,861 shares in the company, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.4 %

CRM opened at $344.07 on Wednesday. The business has a 50 day simple moving average of $338.69 and a two-hundred day simple moving average of $299.31. The firm has a market capitalization of $329.28 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 3.09 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio is 26.32%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of recent research reports. Oppenheimer restated 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. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price on the stock in a report on Friday, December 13th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

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.