Beverly Hills Private Wealth LLC Sells 134 Shares of Salesforce, Inc. (NYSE:CRM)

Beverly Hills Private Wealth LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 12.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 984 shares of the CRM provider’s stock after selling 134 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Salesforce were worth $259,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Graypoint LLC grew its position in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after buying an additional 36 shares during the period. Prentice Wealth Management LLC boosted its position in shares of Salesforce by 1.7% in the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the period. MV Capital Management Inc. boosted its position in shares of Salesforce by 3.9% in the fourth quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares during the period. Legal Advantage Investments Inc. boosted its position in shares of Salesforce by 0.7% in the fourth quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock worth $1,466,000 after purchasing an additional 40 shares during the period. Finally, Mayflower Financial Advisors LLC boosted its position in shares of Salesforce by 1.2% in the fourth quarter. Mayflower Financial Advisors LLC now owns 3,411 shares of the CRM provider’s stock worth $898,000 after purchasing an additional 41 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 7.3 %

Shares of CRM opened at $272.75 on Tuesday. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company has a market cap of $264.57 billion, a P/E ratio of 64.94, a P/E/G ratio of 2.26 and a beta of 1.28. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company’s fifty day simple moving average is $298.52 and its 200-day simple moving average is $260.26.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is presently 9.52%.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $295.74, for a total value of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares in the company, valued at $3,823,539,948.54. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $295.74, for a total transaction of $4,436,100.00. Following the transaction, the chief executive officer now directly owns 12,928,721 shares in the company, valued at approximately $3,823,539,948.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the transaction, the insider now owns 105,837 shares in the company, valued at $31,936,314.75. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 897,375 shares of company stock worth $260,206,096. Insiders own 3.70% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Stifel Nicolaus reiterated a “buy” rating and issued a $350.00 price target on shares of Salesforce in a research report on Wednesday, April 3rd. Bank of America upped their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $290.00 to $350.00 in a report on Thursday, December 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Monday. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $306.26.

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.