Destiny Wealth Partners LLC Has $3.70 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Destiny Wealth Partners LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 11,053 shares of the CRM provider’s stock after selling 151 shares during the quarter. Destiny Wealth Partners LLC’s holdings in Salesforce were worth $3,695,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth approximately $27,000. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its stake in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the third quarter worth $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Loop Capital boosted their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research report on Monday, January 6th. Finally, Robert W. Baird raised their price target on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Price Performance

Shares of Salesforce stock opened at $341.80 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $327.10 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.30. The firm’s 50-day simple moving average is $338.67 and its 200-day simple moving average is $297.37.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 708 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $235,254.24. Following the sale, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of Salesforce stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is owned by insiders.

About Salesforce

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.