CFM Wealth Partners LLC Sells 199 Shares of Salesforce, Inc. (NYSE:CRM)

CFM Wealth Partners LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,806 shares of the CRM provider’s stock after selling 199 shares during the quarter. Salesforce accounts for 2.4% of CFM Wealth Partners LLC’s investment portfolio, making the stock its 7th largest holding. CFM Wealth Partners LLC’s holdings in Salesforce were worth $13,977,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the third quarter worth $27,000. Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC grew its holdings in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after buying an additional 80 shares in the last quarter. FSA Wealth Management LLC bought a new stake in Salesforce during the third quarter worth $53,000. Finally, Friedenthal Financial bought a new stake in Salesforce during the fourth quarter worth $55,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the sale, 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 trade represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,108,669 shares of company stock valued at $383,286,905. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRM. Macquarie restated a “neutral” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Canaccord Genuity Group upped their price objective on Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Citigroup upped their price objective on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research note on Wednesday, December 4th. Finally, Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Down 0.5 %

Shares of NYSE CRM opened at $341.80 on Monday. Salesforce, Inc. has a one year low of $212.00 and a one year 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’s 50 day simple moving average is $338.67 and its two-hundred day simple moving average is $297.66. The stock has a market capitalization of $327.10 billion, a P/E ratio of 56.22, a PEG ratio of 3.20 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings results 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 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 the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

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.