Sage Rhino Capital LLC Sells 869 Shares of Salesforce, Inc. (NYSE:CRM)

Sage Rhino Capital LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 21.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,154 shares of the CRM provider’s stock after selling 869 shares during the period. Sage Rhino Capital LLC’s holdings in Salesforce were worth $1,054,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Weatherly Asset Management L. P. purchased a new position in Salesforce during the third quarter valued at $213,000. Princeton Global Asset Management LLC lifted its position in Salesforce by 8,433.3% during the third quarter. Princeton Global Asset Management LLC now owns 256 shares of the CRM provider’s stock valued at $70,000 after purchasing an additional 253 shares in the last quarter. Optas LLC lifted its position in Salesforce by 1.5% during the third quarter. Optas LLC now owns 7,242 shares of the CRM provider’s stock valued at $1,982,000 after purchasing an additional 107 shares in the last quarter. Janney Capital Management LLC lifted its position in Salesforce by 4.3% during the third quarter. Janney Capital Management LLC now owns 1,299 shares of the CRM provider’s stock valued at $356,000 after purchasing an additional 53 shares in the last quarter. Finally, New Covenant Trust Company N.A. purchased a new position in Salesforce during the third quarter valued at $226,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.9 %

Shares of NYSE CRM opened at $297.63 on Monday. The business’s 50 day moving average is $329.11 and its two-hundred day moving average is $307.95. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market capitalization of $284.83 billion, a P/E ratio of 48.95, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last released its 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). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.62 EPS. As a group, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

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

Analyst Ratings Changes

CRM has been the topic of several analyst reports. Citigroup reiterated a “cautious” rating on shares of Salesforce in a research report on Thursday. UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Redburn Atlantic initiated coverage on Salesforce in a research report on Wednesday, February 19th. They issued a “buy” rating on the stock. Finally, Piper Sandler lowered their price objective on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

Insider Activity

In related news, insider Miguel Milano sold 458 shares of the business’s stock in a transaction that occurred 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 owns 5,864 shares in the company, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is currently owned by insiders.

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.