Jeppson Wealth Management LLC Decreases Position in Salesforce, Inc. (NYSE:CRM)

Jeppson Wealth Management LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,859 shares of the CRM provider’s stock after selling 49 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Salesforce were worth $622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Hutchens & Kramer Investment Management Group LLC boosted its holdings in Salesforce by 13.7% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 1,038 shares of the CRM provider’s stock worth $347,000 after acquiring an additional 125 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after purchasing an additional 205 shares during the last quarter. Griffin Asset Management Inc. acquired a new stake in Salesforce in the 4th quarter worth approximately $229,000. YHB Investment Advisors Inc. grew its position in Salesforce by 4.8% during the 4th quarter. YHB Investment Advisors Inc. now owns 20,158 shares of the CRM provider’s stock worth $6,739,000 after purchasing an additional 925 shares during the last quarter. Finally, Acorn Creek Capital LLC increased its stake in Salesforce by 4.3% during the 4th quarter. Acorn Creek Capital LLC now owns 923 shares of the CRM provider’s stock valued at $309,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 4.0 %

Shares of CRM stock opened at $347.26 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm has a market capitalization of $332.33 billion, a P/E ratio of 57.12, a PEG ratio of 3.01 and a beta of 1.30. The stock’s fifty day moving average is $336.73 and its two-hundred day moving average is $294.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the previous year, the firm posted $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. Salesforce’s dividend payout ratio is presently 26.32%.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,109,169 shares of company stock valued at $383,432,020. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Bank of America lifted their price objective on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Scotiabank boosted their price target on Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Loop Capital increased their price objective on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a report on Friday, December 13th. Finally, TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and increased their price target for the stock from $380.00 to $400.00 in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $377.63.

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.