Nwam LLC Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

Nwam LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 10.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,777 shares of the CRM provider’s stock after selling 432 shares during the quarter. Nwam LLC’s holdings in Salesforce were worth $1,263,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Cable Hill Partners LLC grew its holdings in shares of Salesforce by 1.1% in the fourth quarter. Cable Hill Partners LLC now owns 10,481 shares of the CRM provider’s stock valued at $3,508,000 after purchasing an additional 115 shares in the last quarter. Whipplewood Advisors LLC purchased a new position in Salesforce in the 4th quarter valued at approximately $62,000. NewEdge Wealth LLC grew its stake in shares of Salesforce by 1.6% in the fourth quarter. NewEdge Wealth LLC now owns 214,325 shares of the CRM provider’s stock worth $71,655,000 after acquiring an additional 3,351 shares in the last quarter. Bryn Mawr Capital Management LLC increased its position in shares of Salesforce by 16.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 7,403 shares of the CRM provider’s stock worth $2,475,000 after acquiring an additional 1,030 shares during the period. Finally, Nelson Capital Management LLC raised its stake in shares of Salesforce by 1.8% in the fourth quarter. Nelson Capital Management LLC now owns 8,182 shares of the CRM provider’s stock valued at $2,736,000 after acquiring an additional 143 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $294.80 on Friday. 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 business has a 50 day simple moving average of $330.03 and a 200-day simple moving average of $306.89. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock has a market capitalization of $282.12 billion, a PE ratio of 48.49, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.62 EPS. Equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s payout ratio is currently 26.32%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. The Goldman Sachs Group boosted their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer lowered their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. DA Davidson lowered their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Stifel Nicolaus dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

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.