Mcdonald Partners LLC Sells 114 Shares of Salesforce, Inc. (NYSE:CRM)

Mcdonald Partners LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 12.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 798 shares of the CRM provider’s stock after selling 114 shares during the quarter. Mcdonald Partners LLC’s holdings in Salesforce were worth $267,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at $27,000. Arlington Trust Co LLC grew its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the fourth quarter worth about $30,000. Asset Planning Inc purchased a new position in Salesforce during the fourth quarter worth about $31,000. Finally, Collier Financial purchased a new position in Salesforce during the fourth quarter worth about $32,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 14,808 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,111,420 shares of company stock valued at $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.6 %

CRM opened at $328.62 on Wednesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market capitalization of $314.49 billion, a price-to-earnings ratio of 54.05, a PEG ratio of 2.66 and a beta of 1.31. The business has a 50 day simple moving average of $335.64 and a two-hundred day simple moving average of $304.52. 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 announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the company posted $1.62 EPS. The firm’s revenue was up 8.3% on a year-over-year basis. Analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analyst Weigh In

Several research firms recently commented on CRM. Morgan Stanley boosted their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Truist Financial restated a “buy” rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group boosted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer restated an “outperform” rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” 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 issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.