Mount Yale Investment Advisors LLC Sells 2,244 Shares of Salesforce, Inc. (NYSE:CRM)

Mount Yale Investment Advisors LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 12.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,946 shares of the CRM provider’s stock after selling 2,244 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Salesforce were worth $5,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CRM. Veritas Asset Management LLP bought a new stake in Salesforce in the third quarter valued at $733,805,000. KBC Group NV grew its holdings in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock worth $274,490,000 after purchasing an additional 998,628 shares in the last quarter. State Street Corp lifted its holdings in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Salesforce by 95.7% in the third quarter. Van ECK Associates Corp now owns 1,624,520 shares of the CRM provider’s stock valued at $462,063,000 after buying an additional 794,506 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total transaction of $1,251,768.00. Following the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. The trade was a 3.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,173,891 shares of company stock worth $402,840,388. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $333.47 on Monday. The stock has a market capitalization of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a 50 day moving average price of $336.73 and a 200 day moving average price of $294.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a $0.40 dividend. 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 0.48%. Salesforce’s payout ratio is 26.32%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and set a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Stifel Nicolaus raised their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Truist Financial reiterated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.