Stonebridge Financial Planning Group LLC Has $413,000 Position in Salesforce, Inc. (NYSE:CRM)

Stonebridge Financial Planning Group LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 4.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,570 shares of the CRM provider’s stock after selling 75 shares during the period. Stonebridge Financial Planning Group LLC’s holdings in Salesforce were worth $413,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Graypoint LLC lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after purchasing an additional 36 shares in the last quarter. Chase Investment Counsel Corp lifted its holdings in shares of Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after purchasing an additional 36 shares in the last quarter. Opes Wealth Management LLC lifted its holdings in shares of Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares in the last quarter. Prentice Wealth Management LLC lifted its holdings in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock valued at $604,000 after purchasing an additional 38 shares in the last quarter. Finally, MV Capital Management Inc. lifted its stake in Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock valued at $275,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Down 2.5 %

CRM stock traded down $6.80 during midday trading on Tuesday, reaching $268.94. 5,211,571 shares of the company were exchanged, compared to its average volume of 5,632,396. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. Salesforce, Inc. has a 1-year low of $190.76 and a 1-year high of $318.71. The stock’s 50-day simple moving average is $295.69 and its 200 day simple moving average is $265.20. The company has a market cap of $260.87 billion, a price-to-earnings ratio of 65.03, a price-to-earnings-growth ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during 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%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is currently 9.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CRM shares. Canaccord Genuity Group restated a “buy” rating and issued a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Wedbush boosted their target price on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Mizuho restated a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Evercore ISI boosted their price target on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Finally, Robert W. Baird boosted their price target on Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $315.54, for a total transaction of $4,733,100.00. Following the transaction, the chief executive officer now owns 13,311,166 shares of the company’s stock, valued at approximately $4,200,205,319.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Salesforce news, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $278.00, for a total value of $1,168,712.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $315.54, for a total value of $4,733,100.00. Following the sale, the chief executive officer now owns 13,311,166 shares in the company, valued at approximately $4,200,205,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 610,793 shares of company stock valued at $179,197,018 over the last three months. Company insiders own 3.70% of the company’s stock.

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.