Fiduciary Alliance LLC Reduces Stake in Salesforce, Inc. (NYSE:CRM)

Fiduciary Alliance LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,153 shares of the CRM provider’s stock after selling 109 shares during the period. Fiduciary Alliance LLC’s holdings in Salesforce were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Annapolis Financial Services LLC increased its stake in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce in the third quarter valued at $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CRM shares. Jefferies Financial Group raised their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Oppenheimer restated an “outperform” rating and issued a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Morgan Stanley lifted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Loop Capital upped their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $34,229,213.48. The trade was a 3.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,177,617 shares of company stock worth $403,542,975. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE CRM opened at $323.31 on Wednesday. The company has a fifty day moving average of $336.76 and a two-hundred day moving average of $290.66. The company has a market capitalization of $309.41 billion, a PE ratio of 53.18, a P/E/G ratio of 3.20 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

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.