Dover Advisors LLC Sells 688 Shares of Salesforce, Inc. (NYSE:CRM)

Dover Advisors LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 24.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,070 shares of the CRM provider’s stock after selling 688 shares during the period. Dover Advisors LLC’s holdings in Salesforce were worth $545,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Bear Mountain Capital Inc. bought a new stake in Salesforce in the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce during the 4th quarter worth $31,000. Pacifica Partners Inc. boosted its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth $34,000. Finally, AlphaMark Advisors LLC boosted its stake in shares of Salesforce by 892.9% during the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. KeyCorp initiated coverage on shares of Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Stifel Nicolaus restated a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Wednesday, April 3rd. Finally, Wolfe Research restated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.61.

Salesforce Trading Up 0.4 %

CRM stock traded up $1.15 during mid-day trading on Friday, reaching $274.29. The company had a trading volume of 3,754,585 shares, compared to its average volume of 5,162,527. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a market capitalization of $266.06 billion, a PE ratio of 65.31, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28. The firm has a 50 day moving average of $295.97 and a 200 day moving average of $264.71. Salesforce, Inc. has a 12 month low of $190.76 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.01 EPS. On average, equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s payout ratio is presently 9.52%.

Insider Transactions at Salesforce

In related news, CFO Amy E. Weaver sold 7,075 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the completion of the sale, the chief financial officer now owns 38,483 shares of the company’s stock, valued at $11,903,561.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Salesforce news, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total transaction of $2,188,439.00. Following the transaction, the chief financial officer now owns 38,483 shares in the company, valued at approximately $11,903,561.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 942 shares of the stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 620,793 shares of company stock valued at $182,177,918. Company insiders own 3.70% of the company’s stock.

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.