Salesforce, Inc. (NYSE:CRM) Position Trimmed by Y.D. More Investments Ltd

Y.D. More Investments Ltd cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,189 shares of the CRM provider’s stock after selling 1,026 shares during the period. Salesforce comprises approximately 1.4% of Y.D. More Investments Ltd’s holdings, making the stock its 20th largest position. Y.D. More Investments Ltd’s holdings in Salesforce were worth $6,891,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce in the fourth quarter worth $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter valued at about $31,000. Pacifica Partners Inc. raised its stake in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter valued at about $34,000. Finally, AlphaMark Advisors LLC grew its stake in shares of Salesforce by 892.9% in the 4th quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Friday, April 19th. The shares were sold at an average price of $270.94, for a total value of $4,064,100.00. Following the sale, the chief executive officer now directly owns 12,827,327 shares in the company, valued at approximately $3,475,435,977.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was sold at an average price of $270.94, for a total transaction of $4,064,100.00. Following the sale, the chief executive officer now owns 12,827,327 shares of the company’s stock, valued at $3,475,435,977.38. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 4,204 shares of the business’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $278.00, for a total value of $1,168,712.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 610,793 shares of company stock worth $179,074,618. Insiders own 3.70% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM traded down $0.25 during trading on Wednesday, reaching $268.69. The company had a trading volume of 3,759,790 shares, compared to its average volume of 5,610,165. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The business’s 50 day moving average price is $295.34 and its 200-day moving average price is $265.65. The stock has a market cap of $260.63 billion, a PE ratio of 63.76, a PEG ratio of 2.12 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the business earned $1.01 earnings per share. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.60%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CRM shares. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Truist Financial reissued a “buy” rating and set a $360.00 target price (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. KeyCorp assumed coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating for the company. Wells Fargo & Company increased their price objective on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a report on Wednesday, February 21st. Finally, JPMorgan Chase & Co. upped their target price on Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Company 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.