Ascent Wealth Partners LLC Sells 96 Shares of Salesforce, Inc. (NYSE:CRM)

Ascent Wealth Partners LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,618 shares of the CRM provider’s stock after selling 96 shares during the quarter. Ascent Wealth Partners LLC’s holdings in Salesforce were worth $2,547,000 at the end of the most recent quarter.

A number of 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 valued at about $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter valued at about $31,000. Finally, Collier Financial bought a new position in Salesforce in the fourth quarter valued at about $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly 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 legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company’s stock, valued at $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,102,833 shares of company stock valued at $381,389,136 over the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of Salesforce stock opened at $309.54 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day moving average price of $333.34 and a 200-day moving average price of $305.72. The stock has a market cap of $296.23 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last announced 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). The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.62 earnings per share. Equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors 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 yield of 0.52%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent research reports. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and increased their target price for the company from $380.00 to $400.00 in a report on Friday, January 17th. Redburn Atlantic started coverage on Salesforce in a research note on Wednesday. They issued a “buy” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Thursday, February 6th. JPMorgan Chase & Co. raised their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Finally, Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have issued 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $375.53.

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.