CGN Advisors LLC Has $3.51 Million Holdings in Salesforce, Inc. (NYSE:CRM)

CGN Advisors LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 19.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,502 shares of the CRM provider’s stock after selling 2,538 shares during the period. CGN Advisors LLC’s holdings in Salesforce were worth $3,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CRM. Waterloo Capital L.P. increased its holdings in Salesforce by 42.5% in the 2nd quarter. Waterloo Capital L.P. now owns 1,533 shares of the CRM provider’s stock valued at $394,000 after buying an additional 457 shares during the period. ProVise Management Group LLC increased its stake in Salesforce by 1.0% in the second quarter. ProVise Management Group LLC now owns 5,518 shares of the CRM provider’s stock valued at $1,419,000 after acquiring an additional 56 shares during the last quarter. Intech Investment Management LLC raised its position in Salesforce by 308.1% during the second quarter. Intech Investment Management LLC now owns 202,074 shares of the CRM provider’s stock valued at $51,953,000 after purchasing an additional 152,561 shares in the last quarter. Wealth Advisors of Tampa Bay LLC lifted its stake in Salesforce by 0.9% during the second quarter. Wealth Advisors of Tampa Bay LLC now owns 18,358 shares of the CRM provider’s stock worth $4,720,000 after purchasing an additional 155 shares during the last quarter. Finally, GM Advisory Group LLC acquired a new stake in shares of Salesforce in the 2nd quarter valued at $227,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of NYSE CRM opened at $324.77 on Friday. The firm has a market capitalization of $310.81 billion, a P/E ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The firm’s 50-day moving average price is $337.25 and its 200-day moving average price is $291.08. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

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

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Insider Buying and Selling at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This represents a 1.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. Bank of America upped their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. JMP Securities reissued a “market outperform” rating and issued a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Finally, BMO Capital Markets raised their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.