Harbour Capital Advisors LLC Sells 161 Shares of Salesforce, Inc. (NYSE:CRM)

Harbour Capital Advisors LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 17,433 shares of the CRM provider’s stock after selling 161 shares during the period. Salesforce accounts for approximately 1.3% of Harbour Capital Advisors LLC’s portfolio, making the stock its 18th largest position. Harbour Capital Advisors LLC’s holdings in Salesforce were worth $5,803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its holdings in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Salesforce by 2.6% in the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Legal & General Group Plc grew its position in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after acquiring an additional 57,825 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.0 %

NYSE CRM traded up $0.12 during trading on Monday, reaching $317.97. 2,279,183 shares of the company’s stock traded hands, compared to its average volume of 4,544,374. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month 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. The firm has a market cap of $304.30 billion, a price-to-earnings ratio of 52.30, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The company’s 50 day simple moving average is $335.82 and its two-hundred day simple moving average is $289.73.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent research reports. Needham & Company LLC lifted their target price on Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, January 8th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a report on Friday, December 13th. Stifel Nicolaus raised their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Jefferies Financial Group boosted their price objective on Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $376.05.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. The trade was a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,181,817 shares of company stock worth $404,760,429. Company insiders own 3.20% of the company’s stock.

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.