Northstar Advisory Group LLC Sells 5,749 Shares of Salesforce, Inc. (NYSE:CRM)
Northstar Advisory Group LLC cut its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 57.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,276 shares of the CRM provider’s stock after selling 5,749 shares during the quarter. Northstar Advisory Group LLC’s holdings in Salesforce were worth $1,125,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Osterweis Capital Management Inc. raised its holdings in Salesforce by 463.1% during the second quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock worth $694,000 after buying an additional 2,700 shares during the last quarter. Pointe Capital Management LLC raised its stake in shares of Salesforce by 370.0% in the second quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after purchasing an additional 1,221 shares during the last quarter. Walkner Condon Financial Advisors LLC grew its holdings in Salesforce by 2.9% during the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after buying an additional 74 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of Salesforce by 72.3% during the 3rd quarter. Procyon Advisors LLC now owns 29,481 shares of the CRM provider’s stock worth $5,978,000 after buying an additional 12,371 shares in the last quarter. Finally, BlueCrest Capital Management Ltd purchased a new stake in Salesforce during the second quarter worth about $341,000. Institutional investors and hedge funds own 80.43% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on CRM. Wolfe Research raised shares of Salesforce from a “peer perform” rating to an “outperform” rating and set a $315.00 price target on the stock in a report on Monday, December 18th. Needham & Company LLC increased their target price on shares of Salesforce from $275.00 to $345.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Robert W. Baird increased their price target on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Raymond James raised their price objective on shares of Salesforce from $280.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. Finally, BMO Capital Markets raised their price target on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $304.32.
View Our Latest Stock Analysis on CRM
Insider Buying and Selling at Salesforce
In related news, CAO Sundeep G. Reddy sold 216 shares of the business’s 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 sale, the chief accounting officer now directly owns 2,869 shares in the company, valued at approximately $799,618.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CAO Sundeep G. Reddy sold 216 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Amy E. Weaver sold 12,249 shares of the company’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the transaction, the chief financial officer now directly owns 37,979 shares of the company’s stock, valued at approximately $10,062,156.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 898,507 shares of company stock valued at $255,293,063. 3.70% of the stock is owned by company insiders.
Salesforce Trading Down 0.3 %
Shares of CRM traded down $0.88 during mid-day trading on Thursday, reaching $300.50. The stock had a trading volume of 1,733,546 shares, compared to its average volume of 5,712,234. The business’s fifty day moving average is $293.59 and its 200 day moving average is $251.75. Salesforce, Inc. has a 52-week low of $187.31 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm has a market cap of $291.49 billion, a price-to-earnings ratio of 71.72, a P/E/G ratio of 2.35 and a beta of 1.28.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.
Salesforce Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.53%. Salesforce’s dividend payout ratio is currently 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.
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