Gryphon Financial Partners LLC Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

Gryphon Financial Partners LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,466 shares of the CRM provider’s stock after selling 879 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Salesforce were worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Salesforce Stock Performance

Salesforce stock opened at $297.63 on Monday. 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 firm has a market capitalization of $284.83 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company’s 50-day moving average is $329.11 and its 200 day moving average is $307.95.

Salesforce (NYSE:CRM) last issued its quarterly 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). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is presently 25.16%.

Analyst Ratings Changes

Several research firms have issued reports on CRM. Guggenheim reissued a “sell” rating and set a $247.00 price target on shares of Salesforce in a report on Thursday. The Goldman Sachs Group boosted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group decreased their target price on shares of Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group upped their price target 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. Finally, Robert W. Baird decreased their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research report on Thursday. Two equities 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $365.32.

Insider Buying and Selling

In other news, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock valued at $381,283,706 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.