Amalgamated Bank Reduces Holdings in Salesforce, Inc. (NYSE:CRM)

Amalgamated Bank reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 206,100 shares of the CRM provider’s stock after selling 2,977 shares during the quarter. Salesforce makes up approximately 0.6% of Amalgamated Bank’s investment portfolio, making the stock its 22nd largest position. Amalgamated Bank’s holdings in Salesforce were worth $68,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. EdgeRock Capital LLC lifted its stake in Salesforce by 16.5% in the fourth quarter. EdgeRock Capital LLC now owns 1,102 shares of the CRM provider’s stock worth $368,000 after acquiring an additional 156 shares during the period. Transcendent Capital Group LLC lifted its stake in Salesforce by 525.9% in the fourth quarter. Transcendent Capital Group LLC now owns 1,496 shares of the CRM provider’s stock worth $500,000 after acquiring an additional 1,257 shares during the period. Trifecta Capital Advisors LLC raised its holdings in Salesforce by 3.3% in the fourth quarter. Trifecta Capital Advisors LLC now owns 24,071 shares of the CRM provider’s stock worth $8,048,000 after purchasing an additional 771 shares in the last quarter. Millington Financial Advisors LLC raised its holdings in Salesforce by 16.3% in the fourth quarter. Millington Financial Advisors LLC now owns 5,618 shares of the CRM provider’s stock worth $1,906,000 after purchasing an additional 789 shares in the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Salesforce by 0.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after purchasing an additional 35 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the sale, the insider now directly owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. Loop Capital reduced their target price on shares of Salesforce from $360.00 to $330.00 and set a “hold” rating for the company in a report on Wednesday, February 19th. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Bank of America boosted their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Jefferies Financial Group boosted their target price on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Salesforce Trading Down 0.5 %

Shares of NYSE:CRM opened at $308.27 on Tuesday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a market capitalization of $295.01 billion, a price-to-earnings ratio of 50.70, a price-to-earnings-growth ratio of 2.58 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. The business’s 50 day moving average price is $332.36 and its 200-day moving average price is $306.60.

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 analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the business earned $1.62 EPS. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Salesforce 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.