Salesforce, Inc. (NYSE:CRM) Shares Sold by Avory & Company LLC

Avory & Company LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 20.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,574 shares of the CRM provider’s stock after selling 402 shares during the period. Salesforce accounts for about 0.3% of Avory & Company LLC’s portfolio, making the stock its 20th biggest position. Avory & Company LLC’s holdings in Salesforce were worth $414,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $31,000. Pacifica Partners Inc. lifted its holdings in shares of 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 buying an additional 100 shares during the period. BKM Wealth Management LLC purchased a new position in Salesforce in the 4th quarter valued at approximately $34,000. Finally, AlphaMark Advisors LLC increased its stake 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 purchasing an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 2.0 %

Shares of CRM traded down $5.64 during midday trading on Tuesday, reaching $270.10. 2,991,058 shares of the company were exchanged, compared to its average volume of 5,603,638. The stock has a 50-day moving average price of $295.69 and a 200-day moving average price of $265.20. The company has a market cap of $262.00 billion, a price-to-earnings ratio of 65.03, a P/E/G ratio of 2.11 and a beta of 1.28. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. 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 (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CRM. Bank of America raised their price objective on Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Wedbush raised their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Mizuho reaffirmed a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company raised their price target on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.61.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $282.95, for a total transaction of $4,244,250.00. Following the sale, the chief executive officer now directly owns 13,626,166 shares of the company’s stock, valued at $3,855,523,669.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction dated 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 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 filing with the SEC, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $282.95, for a total value of $4,244,250.00. Following the completion of the sale, the chief executive officer now directly owns 13,626,166 shares of the company’s stock, valued at $3,855,523,669.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 610,793 shares of company stock valued at $179,197,018. 3.70% of the stock is currently owned by 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.