Northstar Advisory Group LLC Sells 5,749 Shares of Salesforce, Inc. (NYSE:CRM)

Northstar Advisory Group LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 57.3% during the fourth quarter, HoldingsChannel reports. The fund owned 4,276 shares of the CRM provider’s stock after selling 5,749 shares during the quarter. Northstar Advisory Group LLC’s holdings in Salesforce were worth $1,125,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after acquiring an additional 38 shares during the period. Legal Advantage Investments Inc. boosted its position in shares of Salesforce by 0.7% in the fourth quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock valued at $1,466,000 after acquiring an additional 40 shares during the period. Westside Investment Management Inc. boosted its position in shares of Salesforce by 0.9% in the fourth quarter. Westside Investment Management Inc. now owns 4,712 shares of the CRM provider’s stock valued at $1,240,000 after acquiring an additional 42 shares during the period. Enterprise Bank & Trust Co boosted its position in shares of Salesforce by 0.4% in the fourth quarter. Enterprise Bank & Trust Co now owns 12,133 shares of the CRM provider’s stock valued at $3,193,000 after acquiring an additional 44 shares during the period. Finally, Fort Point Capital Partners LLC raised its stake in Salesforce by 1.5% in the third quarter. Fort Point Capital Partners LLC now owns 3,298 shares of the CRM provider’s stock valued at $669,000 after purchasing an additional 49 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Trading Down 0.4 %

CRM stock opened at $300.26 on Thursday. Salesforce, Inc. has a 1-year low of $187.31 and a 1-year high of $318.71. 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 $291.25 billion, a price-to-earnings ratio of 71.46, a PEG ratio of 2.35 and a beta of 1.28. The business has a 50 day simple moving average of $293.59 and a two-hundred day simple moving average of $251.75.

Salesforce (NYSE:CRM) last posted 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 business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s revenue for the quarter 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. Research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s payout ratio is presently 9.52%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total transaction of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $256.24, for a total value of $3,843,600.00. Following the sale, the chief executive officer now owns 13,926,166 shares in the company, valued at $3,568,440,775.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of the stock in a transaction 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 completion of the sale, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 898,507 shares of company stock worth $255,293,063. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRM shares. Citigroup raised their target price on shares of Salesforce from $265.00 to $325.00 and gave the company a “neutral” rating in a research note on Monday, February 26th. Raymond James lifted their price target on shares of Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 30th. Bank of America lifted their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $285.00 target price on shares of Salesforce in a research note on Wednesday, February 28th. Nine research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $304.32.

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.