Salesforce, Inc. (NYSE:CRM) Shares Sold by Rothschild Investment LLC

Rothschild Investment LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 92.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,523 shares of the CRM provider’s stock after selling 40,835 shares during the period. Rothschild Investment LLC’s holdings in Salesforce were worth $1,178,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRM. Wealthstream Advisors Inc. purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $224,000. Crestwood Advisors Group LLC boosted its stake in Salesforce by 1.1% during the fourth quarter. Crestwood Advisors Group LLC now owns 297,472 shares of the CRM provider’s stock worth $99,454,000 after buying an additional 3,212 shares during the last quarter. IFP Advisors Inc grew its holdings in Salesforce by 21.8% in the 4th quarter. IFP Advisors Inc now owns 9,733 shares of the CRM provider’s stock valued at $3,255,000 after buying an additional 1,739 shares in the last quarter. Roffman Miller Associates Inc. PA increased its stake in shares of Salesforce by 56.6% in the 4th quarter. Roffman Miller Associates Inc. PA now owns 59,651 shares of the CRM provider’s stock worth $19,943,000 after acquiring an additional 21,566 shares during the last quarter. Finally, Cannon Wealth Management Services LLC raised its holdings in shares of Salesforce by 70.2% during the 4th quarter. Cannon Wealth Management Services LLC now owns 1,370 shares of the CRM provider’s stock worth $465,000 after acquiring an additional 565 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRM. The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research note on Monday, January 6th. Stifel Nicolaus lifted their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Royal Bank of Canada upped their price objective on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, DA Davidson raised their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $375.53.

Salesforce Stock Down 0.5 %

Shares of NYSE:CRM opened at $308.27 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm’s 50 day moving average price is $332.36 and its 200 day moving average price is $306.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $295.01 billion, a price-to-earnings ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Activity

In other news, insider Parker Harris sold 942 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Miguel Milano sold 458 shares of Salesforce stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is currently owned by insiders.

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.