Bfsg LLC Sells 246 Shares of Salesforce, Inc. (NYSE:CRM)

Bfsg LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,066 shares of the CRM provider’s stock after selling 246 shares during the period. Bfsg LLC’s holdings in Salesforce were worth $1,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the 4th quarter valued at about $31,000. BKM Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $34,000. Pacifica Partners Inc. increased its position in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its position in Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after acquiring an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 942 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now owns 39,416 shares in the company, valued at $12,040,011.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 616,589 shares of company stock worth $181,071,306. 3.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on CRM. UBS Group raised their price objective on shares of Salesforce from $285.00 to $310.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Wedbush raised their target price on shares of Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Robert W. Baird lifted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Finally, Argus lifted their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.61.

Salesforce Price Performance

Shares of CRM traded down $0.49 during midday trading on Wednesday, hitting $276.19. 3,930,929 shares of the company traded hands, compared to its average volume of 5,697,396. The stock has a 50-day moving average of $296.91 and a 200-day moving average of $263.28. Salesforce, Inc. has a one year low of $190.57 and a one year high of $318.71. The firm has a market cap of $267.90 billion, a P/E ratio of 66.03, a PEG ratio of 2.11 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Salesforce’s revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

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.