Salesforce, Inc. (NYSE:CRM) Shares Sold by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 14.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,701 shares of the CRM provider’s stock after selling 458 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Salesforce were worth $711,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. MONECO Advisors LLC increased its stake in Salesforce by 44.0% in the 4th quarter. MONECO Advisors LLC now owns 2,394 shares of the CRM provider’s stock valued at $630,000 after buying an additional 731 shares during the period. Brighton Jones LLC grew its stake in shares of Salesforce by 4.7% during the 4th quarter. Brighton Jones LLC now owns 28,871 shares of the CRM provider’s stock worth $7,597,000 after purchasing an additional 1,309 shares during the period. Mission Wealth Management LP grew its stake in shares of Salesforce by 3.5% during the 4th quarter. Mission Wealth Management LP now owns 11,262 shares of the CRM provider’s stock worth $2,963,000 after purchasing an additional 383 shares during the period. Jackson Creek Investment Advisors LLC grew its stake in shares of Salesforce by 35.6% during the 4th quarter. Jackson Creek Investment Advisors LLC now owns 2,946 shares of the CRM provider’s stock worth $775,000 after purchasing an additional 773 shares during the period. Finally, Certuity LLC grew its stake in shares of Salesforce by 10.3% during the 4th quarter. Certuity LLC now owns 7,753 shares of the CRM provider’s stock worth $2,040,000 after purchasing an additional 726 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $285.20, for a total transaction of $2,852,000.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at $17,230,643.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 610,793 shares of company stock worth $179,074,618 over the last ninety days. 3.70% of the stock is owned by insiders.

Salesforce Stock Down 0.1 %

CRM stock opened at $268.71 on Wednesday. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month 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. The company has a market capitalization of $260.65 billion, a P/E ratio of 64.03, a PEG ratio of 2.12 and a beta of 1.28. The firm has a 50 day simple moving average of $295.34 and a 200-day simple moving average of $265.65.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.01 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRM. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research note on Tuesday, April 16th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Citigroup increased their price objective 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. KeyCorp began coverage on shares of Salesforce in a report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Finally, Jefferies Financial Group upped their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a report on Monday, April 22nd. 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $310.61.

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.