Colonial River Investments LLC Sells 574 Shares of Salesforce, Inc. (NYSE:CRM)

Colonial River Investments LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 18.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,511 shares of the CRM provider’s stock after selling 574 shares during the quarter. Colonial River Investments LLC’s holdings in Salesforce were worth $840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd bought a new position in shares of Salesforce during the 4th quarter valued at $6,070,000. World Equity Group Inc. bought a new position in shares of Salesforce during the 4th quarter valued at $426,000. Delap Wealth Advisory LLC lifted its holdings in shares of Salesforce by 2.7% during the 4th quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider’s stock valued at $447,000 after buying an additional 35 shares during the period. Howard Capital Management Inc. lifted its holdings in shares of Salesforce by 9.5% during the 4th quarter. Howard Capital Management Inc. now owns 6,290 shares of the CRM provider’s stock valued at $2,103,000 after buying an additional 548 shares during the period. Finally, Valliance Asset Management Ltd bought a new position in shares of Salesforce during the 4th quarter valued at $2,006,000. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. KeyCorp raised 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. JMP Securities reissued a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Northland Securities restated an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. TD Cowen upgraded Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Finally, Macquarie restated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $375.53.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,102,114 shares of company stock valued at $381,142,656 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 2.8 %

Shares of NYSE:CRM opened at $309.54 on Monday. 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. The company has a 50-day moving average price of $333.34 and a 200 day moving average price of $306.18. The company has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the business posted $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, equities research 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. Shareholders 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 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.