Silver Coast Investments LLC Reduces Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Silver Coast Investments LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 5.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,846 shares of the CRM provider’s stock after selling 109 shares during the quarter. Silver Coast Investments LLC’s holdings in Salesforce were worth $617,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Weatherly Asset Management L. P. purchased a new stake in Salesforce in the third quarter valued at $213,000. Princeton Global Asset Management LLC lifted its holdings in shares of Salesforce by 8,433.3% in the 3rd quarter. Princeton Global Asset Management LLC now owns 256 shares of the CRM provider’s stock valued at $70,000 after purchasing an additional 253 shares during the last quarter. Optas LLC boosted its position in shares of Salesforce by 1.5% in the 3rd quarter. Optas LLC now owns 7,242 shares of the CRM provider’s stock valued at $1,982,000 after purchasing an additional 107 shares during the period. Janney Capital Management LLC boosted its position in shares of Salesforce by 4.3% in the 3rd quarter. Janney Capital Management LLC now owns 1,299 shares of the CRM provider’s stock valued at $356,000 after purchasing an additional 53 shares during the period. Finally, New Covenant Trust Company N.A. purchased a new position in Salesforce during the 3rd quarter worth approximately $226,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This trade represents a 7.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the transaction, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $297.63 on Monday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average price is $329.11 and its two-hundred day moving average price is $307.95. The stock has a market cap of $284.83 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the business posted $1.62 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 25.16%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CRM. Macquarie decreased their price objective on Salesforce from $370.00 to $320.00 and set a “neutral” rating for the company in a report on Thursday. Bank of America lowered their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $365.32.

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.