Orion Capital Management LLC Has $1.23 Million Position in Salesforce, Inc. (NYSE:CRM)

Orion Capital Management LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,670 shares of the CRM provider’s stock after selling 120 shares during the quarter. Orion Capital Management LLC’s holdings in Salesforce were worth $1,229,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Concord Wealth Partners lifted its stake in shares of Salesforce by 89.9% in the 4th quarter. Concord Wealth Partners now owns 5,811 shares of the CRM provider’s stock valued at $1,529,000 after purchasing an additional 2,751 shares during the period. Essex Financial Services Inc. lifted its stake in shares of Salesforce by 11.5% in the 4th quarter. Essex Financial Services Inc. now owns 2,242 shares of the CRM provider’s stock valued at $590,000 after purchasing an additional 232 shares during the period. Mine & Arao Wealth Creation & Management LLC. lifted its stake in shares of Salesforce by 49.0% in the 4th quarter. Mine & Arao Wealth Creation & Management LLC. now owns 1,159 shares of the CRM provider’s stock valued at $305,000 after purchasing an additional 381 shares during the period. Berry Wealth Group LP acquired a new position in shares of Salesforce in the 4th quarter valued at about $567,000. Finally, Hexagon Capital Partners LLC raised its stake in Salesforce by 5.2% during the 4th quarter. Hexagon Capital Partners LLC now owns 957 shares of the CRM provider’s stock worth $252,000 after buying an additional 47 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 1.7 %

Shares of NYSE:CRM traded up $4.56 on Wednesday, reaching $273.50. 2,609,913 shares of the company traded hands, compared to its average volume of 5,593,267. The business’s 50-day simple moving average is $295.34 and its 200 day simple moving average is $265.65. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The stock has a market capitalization of $265.30 billion, a P/E ratio of 63.76, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.59%. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total transaction of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at $12,040,011.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the transaction, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The stock was sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the completion of the transaction, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The disclosure for this sale can be found here. Insiders sold 610,793 shares of company stock worth $179,074,618 over the last three months. Company insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on CRM shares. Canaccord Genuity Group reissued a “buy” rating and set a $350.00 price objective on shares of Salesforce in a report on Thursday, March 7th. Bank of America boosted their price objective on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Mizuho reissued a “buy” rating and set a $345.00 price objective (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $350.00 target price on shares of Salesforce in a report on Wednesday, April 3rd. Finally, StockNews.com lowered Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus price target of $310.61.

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.