Heritage Wealth Management Inc. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Heritage Wealth Management Inc. reduced its stake in Salesforce, Inc. (NYSE:CRM) by 2.1% during the 4th quarter, Holdings Channel reports. The fund owned 2,373 shares of the CRM provider’s stock after selling 50 shares during the period. Heritage Wealth Management Inc.’s holdings in Salesforce were worth $793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC bought a new position in Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $32,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.9 %

Shares of NYSE:CRM opened at $297.63 on Friday. The firm has a fifty day moving average price of $329.11 and a two-hundred day moving average price of $307.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market cap of $284.83 billion, a price-to-earnings ratio of 48.95, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 company 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 business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.62 EPS. Analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 25.16%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CRM. Royal Bank of Canada raised their target price on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of Salesforce in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.