Motco Has $12.53 Million Position in Salesforce, Inc. (NYSE:CRM)

Motco cut its holdings in Salesforce, Inc. (NYSE:CRM) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,485 shares of the CRM provider’s stock after selling 1,110 shares during the quarter. Salesforce comprises approximately 1.3% of Motco’s holdings, making the stock its 19th largest position. Motco’s holdings in Salesforce were worth $12,532,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Nvest Financial LLC increased its position in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD raised its stake in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Sachetta LLC grew its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the period. Finally, Prossimo Advisors LLC raised its position in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. The trade was a 7.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Price Performance

CRM stock opened at $294.80 on Friday. The stock has a market capitalization of $282.12 billion, a price-to-earnings ratio of 48.49, a PEG ratio of 2.58 and a beta of 1.31. The firm’s 50-day moving average price is $330.03 and its two-hundred day moving average price is $306.89. 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, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

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

Salesforce Announces Dividend

The business 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. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CRM shares. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Piper Sandler cut their target price on Salesforce from $405.00 to $400.00 and set an “overweight” rating on the stock in a report on Thursday. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Canaccord Genuity Group decreased their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, five 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

About Salesforce

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.