Salesforce, Inc. (NYSE:CRM) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,988 shares of the CRM provider’s stock after selling 663 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Salesforce were worth $2,365,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Fairfield Bush & CO. boosted its position in Salesforce by 8.7% during the 1st quarter. Fairfield Bush & CO. now owns 4,468 shares of the CRM provider’s stock valued at $949,000 after purchasing an additional 357 shares during the period. Roundview Capital LLC boosted its position in Salesforce by 18.8% during the 1st quarter. Roundview Capital LLC now owns 24,037 shares of the CRM provider’s stock valued at $5,104,000 after purchasing an additional 3,809 shares during the period. Covestor Ltd boosted its position in Salesforce by 42.8% during the 1st quarter. Covestor Ltd now owns 621 shares of the CRM provider’s stock valued at $132,000 after purchasing an additional 186 shares during the period. Ergoteles LLC acquired a new position in Salesforce during the 1st quarter valued at approximately $455,000. Finally, Mackenzie Financial Corp boosted its position in Salesforce by 21.3% during the 1st quarter. Mackenzie Financial Corp now owns 860,950 shares of the CRM provider’s stock valued at $182,797,000 after purchasing an additional 151,440 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the transaction, the insider now owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Sundeep G. Reddy sold 216 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the sale, the insider now owns 60,976 shares in the company, valued at $17,323,891.36. The disclosure for this sale can be found here. In the last 90 days, insiders sold 628,184 shares of company stock valued at $184,794,698. Insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRM. Oppenheimer lifted their target price on Salesforce from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Monday, February 12th. Robert W. Baird lifted their target price on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. BMO Capital Markets boosted their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research note on Tuesday. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $350.00 target price on shares of Salesforce in a research report on Wednesday, April 3rd. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $307.87.

Salesforce Stock Down 0.8 %

Shares of NYSE:CRM traded down $2.16 on Friday, reaching $269.76. The company had a trading volume of 2,979,271 shares, compared to its average volume of 5,672,500. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The stock has a 50-day moving average price of $297.70 and a 200 day moving average price of $260.97. The stock has a market capitalization of $261.67 billion, a P/E ratio of 64.71, a P/E/G ratio of 2.13 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. Salesforce’s dividend payout ratio is presently 9.52%.

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.