Robertson Stephens Wealth Management LLC Has $1.82 Million Position in Salesforce, Inc. (NYSE:CRM)

Robertson Stephens Wealth Management LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,913 shares of the CRM provider’s stock after selling 44 shares during the quarter. Robertson Stephens Wealth Management LLC’s holdings in Salesforce were worth $1,819,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Bear Mountain Capital Inc. bought a new position in shares of Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. BKM Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at $34,000. Pacifica Partners Inc. raised its stake in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted 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 during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.2 %

Shares of Salesforce stock traded up $3.17 on Thursday, hitting $271.86. The stock had a trading volume of 1,066,729 shares, compared to its average volume of 5,555,111. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $190.76 and a one year high of $318.71. The stock has a market cap of $263.70 billion, a price-to-earnings ratio of 64.47, a PEG ratio of 2.07 and a beta of 1.30. The stock’s 50-day simple moving average is $295.04 and its two-hundred day simple moving average is $265.67.

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

Salesforce Announces Dividend

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

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research reports. KeyCorp assumed coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating for the company. Canaccord Genuity Group restated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Thursday, March 7th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Argus raised their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, JMP Securities reissued a “market outperform” rating and issued a $342.00 price objective on shares of Salesforce in a research report on Monday, April 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $310.61.

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $315.54, for a total value of $4,733,100.00. Following the transaction, the chief executive officer now directly owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders sold 614,993 shares of company stock valued at $180,212,524 over the last quarter. 3.70% of the stock is owned by company 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.