RB Capital Management LLC Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

RB Capital Management LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,036 shares of the CRM provider’s stock after selling 69 shares during the quarter. Salesforce accounts for 1.6% of RB Capital Management LLC’s holdings, making the stock its 14th largest holding. RB Capital Management LLC’s holdings in Salesforce were worth $5,535,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of CRM. Concord Wealth Partners raised its holdings 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 buying an additional 2,751 shares during the period. Essex Financial Services Inc. lifted its position in shares of Salesforce by 11.5% during the fourth quarter. Essex Financial Services Inc. now owns 2,242 shares of the CRM provider’s stock worth $590,000 after purchasing an additional 232 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. boosted its stake in shares of Salesforce by 49.0% in the fourth 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 fourth quarter valued at approximately $567,000. Finally, Hexagon Capital Partners LLC lifted its holdings 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 in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Down 0.1 %

CRM traded down $0.25 on Wednesday, reaching $268.69. 3,758,522 shares of the company’s stock were exchanged, compared to its average volume of 5,599,626. The company has a market cap of $260.63 billion, a price-to-earnings ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28. 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 twelve month low of $190.76 and a twelve month high of $318.71. The company’s 50 day moving average is $295.34 and its 200-day moving average is $265.65.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Wednesday, April 3rd. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Monday, April 15th. JPMorgan Chase & Co. lifted their price target on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, February 29th. Finally, Canaccord Genuity Group restated a “buy” rating and set a $350.00 target price on shares of Salesforce in a research note on Thursday, March 7th. Nine equities research 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $310.61.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 942 shares of the firm’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 transaction of $287,743.32. Following the completion of the sale, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $305.46, for a total value of $287,743.32. Following the completion of the sale, the chief financial officer now directly owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $285.20, for a total value of $2,852,000.00. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,230,643.20. The disclosure for this sale can be found here. Insiders sold a total of 610,793 shares of company stock worth $179,074,618 in the last 90 days. 3.70% of the stock is owned by corporate insiders.

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.