Salesforce, Inc. (NYSE:CRM) Shares Sold by Congress Park Capital LLC

Congress Park Capital LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 14.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,035 shares of the CRM provider’s stock after selling 495 shares during the period. Congress Park Capital LLC’s holdings in Salesforce were worth $914,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CRM. Bear Mountain Capital Inc. acquired a new stake in Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the fourth quarter worth $31,000. Pacifica Partners Inc. increased its stake in shares of Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Salesforce during the fourth quarter valued at $34,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 2.2 %

Shares of Salesforce stock traded up $5.63 during trading on Friday, hitting $258.48. 5,296,845 shares of the stock were exchanged, compared to its average volume of 6,925,333. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The stock has a market cap of $250.47 billion, a price-to-earnings ratio of 46.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm’s 50-day moving average price is $260.43 and its 200 day moving average price is $276.33.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.06. The company had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. Salesforce’s payout ratio is 7.19%.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the completion of the transaction, the chief executive officer now directly owns 13,011,166 shares in the company, valued at $3,925,729,005.52. The disclosure for this sale can be found here. Insiders sold a total of 541,787 shares of company stock valued at $149,773,683 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CRM shares. Citigroup reduced their price objective on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, May 30th. DA Davidson decreased their target price on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Truist Financial reissued a “buy” rating and issued a $300.00 price objective (down from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. TD Cowen dropped their price objective on Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research note on Thursday, May 30th. Finally, Canaccord Genuity Group cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Company 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.