Salesforce, Inc. (NYSE:CRM) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP decreased its position in Salesforce, Inc. (NYSE:CRM) by 74.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,956 shares of the CRM provider’s stock after selling 8,530 shares during the quarter. Stevens Capital Management LP’s holdings in Salesforce were worth $778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. Graypoint LLC raised its stake in Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC grew its holdings in Salesforce by 2.9% in the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after buying an additional 37 shares during the period. Prentice Wealth Management LLC grew its holdings in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after buying an additional 38 shares during the period. MV Capital Management Inc. grew its holdings in Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after buying an additional 39 shares during the period. Finally, Beaumont Asset Management L.L.C. grew its holdings in Salesforce by 0.4% in the 4th quarter. Beaumont Asset Management L.L.C. now owns 8,901 shares of the CRM provider’s stock valued at $2,342,000 after buying an additional 39 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other 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 of the company’s stock, valued at $1,599,566.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the transaction, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 2,425 shares of the company’s 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 sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 616,589 shares of company stock valued at $181,071,306. 3.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Citigroup boosted their target price on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Wolfe Research reiterated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Oppenheimer boosted their target price on Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. Nine 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 company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.61.

Salesforce Stock Performance

Shares of CRM stock traded down $3.05 on Thursday, hitting $273.14. 4,807,359 shares of the stock traded hands, compared to its average volume of 5,686,368. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $264.95 billion, a PE ratio of 64.14, a PEG ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.57 and a 1-year high of $318.71. The company’s fifty day moving average is $296.65 and its 200 day moving average is $263.37.

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

Salesforce Dividend Announcement

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

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.