Salesforce, Inc. (NYSE:CRM) Shares Sold by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,375 shares of the CRM provider’s stock after selling 2,871 shares during the period. Salesforce accounts for about 3.2% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its 10th largest position. Obermeyer Wood Investment Counsel Lllp’s holdings in Salesforce were worth $46,148,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Bear Mountain Capital Inc. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $26,000. Pacifica Partners Inc. boosted its stake in Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after buying an additional 100 shares in the last quarter. BKM Wealth Management LLC acquired a new position in Salesforce in the fourth quarter worth $34,000. GHP Investment Advisors Inc. boosted its stake in Salesforce by 30.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 270 shares of the CRM provider’s stock worth $36,000 after purchasing an additional 63 shares in the last quarter. Finally, Live Oak Investment Partners acquired a new position in Salesforce in the fourth quarter worth $36,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the transaction, the insider now directly owns 60,976 shares of the company’s stock, valued at approximately $17,323,891.36. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of Salesforce stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $284.11, for a total transaction of $2,841,100.00. Following the completion of the transaction, the insider now owns 60,976 shares in the company, valued at approximately $17,323,891.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $278.71, for a total value of $60,201.36. Following the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The disclosure for this sale can be found here. In the last ninety days, insiders sold 907,149 shares of company stock valued at $262,952,448. Corporate insiders own 3.70% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. Wolfe Research reissued an “outperform” rating and issued a $365.00 price objective on shares of Salesforce in a research note on Tuesday. Mizuho restated a “buy” rating and set a $345.00 target price (up previously from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $290.00 to $350.00 in a research report on Thursday, December 21st. UBS Group boosted their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Finally, TheStreet upgraded Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. Nine research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $307.87.

Salesforce Stock Down 1.6 %

NYSE CRM traded down $4.40 during trading hours on Thursday, hitting $271.92. 5,831,368 shares of the company traded hands, compared to its average volume of 5,708,409. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The business’s 50-day moving average is $298.10 and its 200-day moving average is $260.89. The stock has a market capitalization of $263.76 billion, a price-to-earnings ratio of 64.71, a P/E/G ratio of 2.13 and a beta of 1.28. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

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.