Strategic Wealth Investment Group LLC Has $198,000 Stake in Salesforce, Inc. (NYSE:CRM)

Strategic Wealth Investment Group LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 98.8% during the 4th quarter, HoldingsChannel reports. The firm owned 592 shares of the CRM provider’s stock after selling 50,270 shares during the quarter. Strategic Wealth Investment Group LLC’s holdings in Salesforce were worth $198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Magnolia Capital Advisors LLC lifted its position in Salesforce by 10.9% in the 2nd quarter. Magnolia Capital Advisors LLC now owns 4,351 shares of the CRM provider’s stock valued at $1,119,000 after acquiring an additional 426 shares in the last quarter. Silver Lake Advisory LLC bought a new stake in shares of Salesforce in the second quarter valued at about $273,000. Invst LLC boosted its position in shares of Salesforce by 9.8% during the second quarter. Invst LLC now owns 16,318 shares of the CRM provider’s stock worth $4,181,000 after buying an additional 1,455 shares during the period. Ecofi Investissements SA bought a new position in shares of Salesforce during the second quarter worth about $964,000. Finally, Connective Capital Management LLC acquired a new stake in Salesforce in the 2nd quarter valued at approximately $1,278,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CRM. Citigroup upped their price target on Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 4th. Morgan Stanley raised their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Loop Capital lifted their target price on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Insider Transactions at Salesforce

In related news, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction that occurred on 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 sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,109,169 shares of company stock worth $383,432,020 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $347.26 on Tuesday. The firm has a 50 day moving average of $336.73 and a 200-day moving average of $294.60. The company has a market cap of $332.33 billion, a price-to-earnings ratio of 57.12, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

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

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.46%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.