Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 4,652 Shares of Salesforce, Inc. (NYSE:CRM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 319,340 shares of the CRM provider’s stock after selling 4,652 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Salesforce were worth $110,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Foundations Investment Advisors LLC boosted its holdings in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc purchased a new position in Salesforce during the 3rd quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% during the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. Aljian Capital Management LLC grew its holdings in Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the period. Finally, AIA Group Ltd increased its stake in shares of Salesforce by 8.9% during 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 in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the sale, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the transaction, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. The trade was a 7.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.5 %

Shares of CRM stock opened at $325.81 on Friday. 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 stock has a fifty day simple moving average of $338.97 and a two-hundred day simple moving average of $300.36. The firm has a market capitalization of $311.80 billion, a PE ratio of 53.59, a PEG ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM) last issued its earnings results 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). 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 period last year, the business posted $1.62 EPS. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent research reports. Northland Securities restated an “outperform” rating and issued a $440.00 price target (up previously from $400.00) on shares of Salesforce in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. JMP Securities reissued a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Stifel Nicolaus lifted their target price on shares of Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.