Legal Advantage Investments Inc. Sells 50 Shares of Salesforce, Inc. (NYSE:CRM)

Legal Advantage Investments Inc. lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,496 shares of the CRM provider’s stock after selling 50 shares during the period. Legal Advantage Investments Inc.’s holdings in Salesforce were worth $1,837,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC grew its stake in shares of Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after buying an additional 33 shares during the last quarter. EWA LLC grew its stake in shares of Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock worth $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank grew its stake in shares of Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after buying an additional 34 shares during the last quarter. Principal Street Partners LLC grew its stake in shares of Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock worth $891,000 after buying an additional 34 shares during the last quarter. Finally, Nvwm LLC grew its stake in shares of Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 1.5 %

Shares of NYSE CRM opened at $324.77 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market cap of $310.81 billion, a P/E ratio of 53.42, a PEG ratio of 2.93 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a 50-day simple moving average of $337.31 and a two-hundred day simple moving average of $292.02.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the business earned $1.62 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,173,477 shares of company stock valued at $402,596,964. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Oppenheimer restated an “outperform” rating and issued a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research note on Wednesday, December 4th. Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus increased their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

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.