Salesforce, Inc. (NYSE:CRM) Shares Sold by Legacy Capital Group California Inc.

Legacy Capital Group California Inc. trimmed its position in Salesforce, Inc. (NYSE:CRM) by 32.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 2,459 shares of the CRM provider’s stock after selling 1,160 shares during the period. Legacy Capital Group California Inc.’s holdings in Salesforce were worth $822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Elevated Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter worth approximately $523,000. U.S. Capital Wealth Advisors LLC increased its stake in Salesforce by 74.4% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 12,424 shares of the CRM provider’s stock worth $3,401,000 after buying an additional 5,299 shares during the period. International Assets Investment Management LLC increased its stake in 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 buying an additional 998,628 shares during the period. YHB Investment Advisors Inc. increased its stake in Salesforce by 4.4% during the 3rd quarter. YHB Investment Advisors Inc. now owns 19,233 shares of the CRM provider’s stock worth $5,264,000 after buying an additional 811 shares during the period. Finally, Great Lakes Retirement Inc. increased its stake in Salesforce by 3.4% during the 3rd quarter. Great Lakes Retirement Inc. now owns 9,526 shares of the CRM provider’s stock worth $2,607,000 after buying an additional 312 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on CRM shares. UBS Group increased their price objective on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Redburn Atlantic started coverage on shares of Salesforce in a research report on Wednesday. They issued a “buy” rating on the stock. Canaccord Genuity Group increased their price objective on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Jefferies Financial Group increased their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Finally, DA Davidson increased their price objective on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.84.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 652 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $216,646.56. Following the sale, the insider now directly owns 121,467 shares in the company, valued at $40,361,054.76. This trade represents a 0.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,102,833 shares of company stock worth $381,389,136. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 1.8 %

Shares of NYSE CRM opened at $318.76 on Friday. The stock has a market cap of $305.06 billion, a P/E ratio of 52.43, a P/E/G ratio of 2.64 and a beta of 1.31. The firm has a 50 day moving average price of $334.23 and a 200 day moving average price of $304.76. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 EPS. Analysts expect 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 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.