Riversedge Advisors LLC Sells 417 Shares of Salesforce, Inc. (NYSE:CRM)

Riversedge Advisors LLC lessened its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 17.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,936 shares of the CRM provider’s stock after selling 417 shares during the period. Riversedge Advisors LLC’s holdings in Salesforce were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Salesforce in the fourth quarter valued at $1,420,381,000. Moneta Group Investment Advisors LLC increased its holdings in Salesforce by 125,717.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after buying an additional 10,252,257 shares during the period. Starboard Value LP acquired a new position in shares of Salesforce in the 4th quarter valued at $401,215,000. Ontario Teachers Pension Plan Board bought a new position in shares of Salesforce during the 2nd quarter worth about $352,498,000. Finally, Barclays PLC boosted its position in shares of Salesforce by 99.7% during the 2nd quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock valued at $675,370,000 after acquiring an additional 1,595,733 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at approximately $12,040,011.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 942 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the transaction, the chief financial officer now owns 39,416 shares of the company’s stock, valued at $12,040,011.36. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now directly owns 2,869 shares in the company, valued at $799,618.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,159,307 shares of company stock valued at $324,535,513. 3.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on CRM. Morgan Stanley upgraded shares of Salesforce from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. TheStreet raised Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Raymond James increased their price objective on Salesforce from $280.00 to $300.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 30th. Needham & Company LLC lifted their price objective on Salesforce from $275.00 to $345.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Citigroup upped their target price on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $304.32.

View Our Latest Analysis on CRM

Salesforce Stock Down 0.1 %

Shares of CRM stock opened at $305.84 on Wednesday. Salesforce, Inc. has a 12-month low of $187.31 and a 12-month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a fifty day moving average of $292.85 and a 200-day moving average of $251.18. The company has a market capitalization of $296.66 billion, a price-to-earnings ratio of 72.82, a P/E/G ratio of 2.35 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly 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 return on equity of 10.42% and a net margin of 11.87%. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Salesforce Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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