Salesforce, Inc. (NYSE:CRM) Shares Sold by Lake Street Advisors Group LLC

Lake Street Advisors Group LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 3.0% during the fourth quarter, HoldingsChannel reports. The firm owned 10,690 shares of the CRM provider’s stock after selling 335 shares during the period. Lake Street Advisors Group LLC’s holdings in Salesforce were worth $3,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Arlington Trust Co LLC lifted its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new stake in Salesforce in the 4th quarter valued at about $30,000. Asset Planning Inc purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. Collier Financial acquired a new position in shares of Salesforce during the 4th quarter worth approximately $32,000. Finally, Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter valued at approximately $27,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group lifted their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird upped their price objective on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Wedbush reiterated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $374.47.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the completion of the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.7 %

Shares of NYSE CRM opened at $306.02 on Wednesday. The stock has a market cap of $292.86 billion, a P/E ratio of 50.33, a PEG ratio of 2.58 and a beta of 1.31. The business’s fifty day simple moving average is $331.46 and its 200-day simple moving average is $306.97. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the prior year, the business earned $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.