Transcend Capital Advisors LLC Sells 7,103 Shares of Salesforce, Inc. (NYSE:CRM)

Transcend Capital Advisors LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 53.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,200 shares of the CRM provider’s stock after selling 7,103 shares during the period. Transcend Capital Advisors LLC’s holdings in Salesforce were worth $2,073,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC grew its position 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 worth $29,000 after buying an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc purchased a new stake in Salesforce during the fourth quarter valued at approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce in the fourth quarter valued at approximately $32,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 2.8 %

Shares of CRM opened at $309.54 on Friday. The firm has a market cap of $296.23 billion, a P/E ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The stock’s 50 day moving average is $333.34 and its two-hundred day moving average is $305.25. 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 (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). The business 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 quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business earned $1.62 EPS. Analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business 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 of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRM shares. UBS Group upped their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird increased their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research report on Thursday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $375.53.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 942 shares of the 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 transaction, the insider now directly owns 120,333 shares of the company’s stock, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is owned by corporate 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.