Salesforce, Inc. (NYSE:CRM) Shares Sold by Redmond Asset Management LLC

Redmond Asset Management LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,884 shares of the CRM provider’s stock after selling 273 shares during the quarter. Redmond Asset Management LLC’s holdings in Salesforce were worth $1,967,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in CRM. Foundations Investment Advisors LLC grew its position in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after purchasing an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc purchased a new stake in shares of Salesforce in the third quarter valued at $1,215,000. Prime Capital Investment Advisors LLC grew its position in shares of Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC grew its position in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the period. Finally, AIA Group Ltd grew its position in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM opened at $309.54 on Friday. The firm has a 50-day moving average of $333.34 and a two-hundred day moving average 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. The company has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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). The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 EPS. As a group, analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal 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 issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio is 26.32%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a research report on Friday, January 17th. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target for the company in a research report on Friday, December 13th. Wedbush reissued an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Barclays boosted their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Citigroup boosted their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $375.53.

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 value of $249,995,253.00. Following the completion of the sale, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. The trade was a 11.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,833 shares of company stock worth $381,389,136 in the last 90 days. Company insiders own 3.20% of the company’s stock.

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.