Larson Financial Group LLC Sells 76 Shares of Salesforce, Inc. (NYSE:CRM)

Larson Financial Group LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,123 shares of the CRM provider’s stock after selling 76 shares during the quarter. Larson Financial Group LLC’s holdings in Salesforce were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CRM. Graypoint LLC lifted its stake in Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC raised its holdings in shares of Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the last quarter. Prentice Wealth Management LLC lifted its position in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares in the last quarter. MV Capital Management Inc. boosted its holdings in Salesforce by 3.9% during the fourth quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares during the last quarter. Finally, Legal Advantage Investments Inc. grew its position in Salesforce by 0.7% in the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after purchasing an additional 40 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Salesforce stock opened at $276.63 on Wednesday. The firm’s 50 day simple moving average is $296.91 and its 200 day simple moving average is $263.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The firm has a market capitalization of $268.33 billion, a PE ratio of 65.86, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. As a group, analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CRM shares. UBS Group lifted their target price on shares of Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Evercore ISI upped their price objective on Salesforce from $290.00 to $330.00 and gave the company an “outperform” rating in a research note on Thursday, February 29th. JMP Securities reiterated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research note on Monday, April 15th. Oppenheimer boosted their price target on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, TheStreet upgraded shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $280.79, for a total value of $4,211,850.00. Following the completion of the transaction, the chief executive officer now directly owns 13,671,166 shares in the company, valued at $3,838,726,701.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction on Tuesday, April 23rd. The shares were 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 directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 616,589 shares of company stock valued at $181,071,306. 3.70% of the stock is owned by corporate insiders.

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.