PSI Advisors LLC Sells 661 Shares of Salesforce, Inc. (NYSE:CRM)

PSI Advisors LLC decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 35.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,213 shares of the CRM provider’s stock after selling 661 shares during the quarter. PSI Advisors LLC’s holdings in Salesforce were worth $405,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CRM. GHP Investment Advisors Inc. lifted its position in shares of Salesforce by 38.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 206 shares of the CRM provider’s stock worth $53,000 after purchasing an additional 57 shares during the period. Brown Brothers Harriman & Co. boosted its position in Salesforce by 5.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 21,263 shares of the CRM provider’s stock valued at $5,467,000 after acquiring an additional 1,120 shares in the last quarter. Angeles Investment Advisors LLC increased its holdings in shares of Salesforce by 8.2% in the 2nd quarter. Angeles Investment Advisors LLC now owns 2,773 shares of the CRM provider’s stock valued at $713,000 after acquiring an additional 211 shares during the period. Capital Wealth Planning LLC raised its position in shares of Salesforce by 3.0% in the 2nd quarter. Capital Wealth Planning LLC now owns 10,743 shares of the CRM provider’s stock worth $2,762,000 after acquiring an additional 312 shares in the last quarter. Finally, Financial Perspectives Inc lifted its stake in shares of Salesforce by 197.3% during the 2nd quarter. Financial Perspectives Inc now owns 223 shares of the CRM provider’s stock worth $57,000 after purchasing an additional 148 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Needham & Company LLC boosted their target price on shares of Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, January 8th. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Bank of America lifted their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Royal Bank of Canada increased their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Oppenheimer reissued an “outperform” rating and issued a $415.00 price objective (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $376.05.

Salesforce Trading Up 0.5 %

CRM opened at $319.39 on Tuesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The business’s 50 day moving average price is $336.25 and its 200 day moving average price is $290.19. The stock has a market capitalization of $305.66 billion, a PE ratio of 52.53, a P/E/G ratio of 3.21 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. As a group, equities research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,177,617 shares of company stock valued at $403,542,975 in the last three months. 3.20% of the stock is owned by corporate 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.