Good Life Advisors LLC Sells 427 Shares of Salesforce, Inc. (NYSE:CRM)

Good Life Advisors LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 19.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,789 shares of the CRM provider’s stock after selling 427 shares during the quarter. Good Life Advisors LLC’s holdings in Salesforce were worth $598,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in Salesforce in the fourth quarter valued at $30,000. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter valued at $31,000. Collier Financial acquired a new stake in Salesforce during the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth about $27,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE CRM opened at $318.76 on Friday. The firm has a market cap of $305.06 billion, a price-to-earnings ratio of 52.43, a PEG ratio of 2.64 and a beta of 1.31. The company has a 50-day simple moving average of $334.23 and a two-hundred day simple moving average of $304.76. The company has a quick ratio of 1.11, a current 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 issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced 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 dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Piper Sandler restated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their target price for the stock from $380.00 to $400.00 in a research note on Friday, January 17th. Royal Bank of Canada upped their price objective on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group upped their target price on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $376.84.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the business’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 transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,833 shares of company stock worth $381,389,136 in the last three months. 3.20% of the stock is owned by insiders.

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.