Greenup Street Wealth Management LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 90.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 703 shares of the CRM provider’s stock after selling 6,521 shares during the quarter. Greenup Street Wealth Management LLC’s holdings in Salesforce were worth $235,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the business. Sachetta LLC boosted its stake 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 purchasing an additional 32 shares during the last quarter. Aviance Capital Partners LLC lifted its stake in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares in the last quarter. EWA LLC boosted its position in Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after acquiring an additional 33 shares during the last quarter. Umpqua Bank grew its stake in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after acquiring an additional 34 shares in the last quarter. Finally, Principal Street Partners LLC raised its holdings in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after acquiring an additional 34 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Salesforce
In related news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the transaction, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,109,169 shares of company stock valued at $383,432,020 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.
Salesforce Price Performance
Salesforce (NYSE:CRM – Get Free Report) last issued 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 return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business posted $1.62 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.
Salesforce Dividend Announcement
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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.46%. Salesforce’s payout ratio is 26.32%.
Analyst Ratings Changes
A number of research firms have weighed in on CRM. Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. Barclays increased their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Oppenheimer reissued an “outperform” rating and issued a $415.00 target price (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Finally, UBS Group lifted their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.
View Our Latest Stock Report on Salesforce
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.
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