Transcend Capital Advisors LLC Sells 7,103 Shares of Salesforce, Inc. (NYSE:CRM)

Transcend Capital Advisors LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 53.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,200 shares of the CRM provider’s stock after selling 7,103 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Salesforce were worth $2,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth $27,000. Arlington Trust Co LLC lifted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter valued at about $31,000. Finally, Collier Financial purchased a new stake in Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

CRM stock opened at $309.54 on Friday. The stock has a market cap of $296.23 billion, a PE ratio of 50.91, a P/E/G ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a 50-day moving average price of $333.34 and a 200 day moving average price of $305.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced 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 (DPR) is 26.32%.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Barclays raised their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Canaccord Genuity Group increased their price target on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Wells Fargo & Company boosted their price objective on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $375.53.

Insider Activity

In related news, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is currently owned by company 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.