Salesforce, Inc. (NYSE:CRM) Stock Holdings Decreased by Intellectus Partners LLC

Intellectus Partners LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,612 shares of the CRM provider’s stock after selling 70 shares during the period. Intellectus Partners LLC’s holdings in Salesforce were worth $1,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CRM. DAVENPORT & Co LLC grew its position in shares of Salesforce by 25.7% during the 3rd quarter. DAVENPORT & Co LLC now owns 4,411 shares of the CRM provider’s stock valued at $894,000 after buying an additional 901 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its position in shares of Salesforce by 2.9% during the 3rd quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock valued at $534,000 after buying an additional 74 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Salesforce by 16.0% during the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 8,426 shares of the CRM provider’s stock valued at $1,709,000 after buying an additional 1,160 shares during the last quarter. Evanson Asset Management LLC grew its position in shares of Salesforce by 44.8% during the 3rd quarter. Evanson Asset Management LLC now owns 1,616 shares of the CRM provider’s stock valued at $328,000 after buying an additional 500 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC grew its position in shares of Salesforce by 14.8% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 19,228 shares of the CRM provider’s stock valued at $3,899,000 after buying an additional 2,479 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRM. Robert W. Baird boosted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Mizuho restated a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Wedbush upped their target price on shares of Salesforce from $280.00 to $325.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $350.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Friday, April 12th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Stock Up 0.4 %

Shares of CRM traded up $1.15 during mid-day trading on Friday, hitting $274.29. 3,754,585 shares of the company’s stock were exchanged, compared to its average volume of 5,162,527. The firm has a fifty day moving average of $295.97 and a two-hundred day moving average of $264.30. Salesforce, Inc. has a twelve month low of $190.76 and a twelve month high of $318.71. The stock has a market cap of $266.06 billion, a price-to-earnings ratio of 65.31, a P/E/G ratio of 2.11 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business posted $1.01 EPS. Salesforce’s quarterly revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current 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 paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce’s dividend payout ratio (DPR) is 9.52%.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $285.05, for a total transaction of $4,275,750.00. Following the completion of the sale, the chief executive officer now directly owns 13,656,166 shares of the company’s stock, valued at approximately $3,892,690,118.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $283.12, for a total value of $2,831,200.00. Following the sale, the insider now directly owns 60,416 shares in the company, valued at approximately $17,104,977.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $285.05, for a total value of $4,275,750.00. Following the completion of the sale, the chief executive officer now owns 13,656,166 shares in the company, valued at $3,892,690,118.30. The disclosure for this sale can be found here. Insiders have sold a total of 620,793 shares of company stock worth $182,177,918 in the last 90 days. 3.70% 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.