Migdal Insurance & Financial Holdings Ltd. Sells 307 Shares of Salesforce, Inc. (NYSE:CRM)

Migdal Insurance & Financial Holdings Ltd. cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 11.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,310 shares of the CRM provider’s stock after selling 307 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Salesforce were worth $775,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the stock. RBA Wealth Management LLC increased its position in shares of Salesforce by 3.7% during the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock valued at $4,426,000 after purchasing an additional 574 shares during the last quarter. CWM LLC increased its position in shares of Salesforce by 6.6% during the 3rd quarter. CWM LLC now owns 77,140 shares of the CRM provider’s stock valued at $21,114,000 after purchasing an additional 4,744 shares during the last quarter. Agate Pass Investment Management LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at $1,370,000. Watts Gwilliam & Co. LLC purchased a new stake in shares of Salesforce during the 3rd quarter valued at $1,136,000. Finally, Private Advisory Group LLC increased its holdings in Salesforce by 1,031.5% in the 3rd quarter. Private Advisory Group LLC now owns 13,488 shares of the CRM provider’s stock worth $3,692,000 after acquiring an additional 12,296 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

NYSE:CRM opened at $325.81 on Friday. The business has a 50 day moving average of $339.05 and a 200 day moving average of $299.87. The company has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 (NYSE:CRM) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.62 EPS. On average, sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Macquarie reissued a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Scotiabank lifted their price objective on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and issued a $425.00 price objective on shares of Salesforce in a report on Wednesday, December 18th. Cfra set a $343.00 price objective on Salesforce in a report on Thursday, October 17th. Finally, Canaccord Genuity Group lifted their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

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.