Salesforce, Inc. (NYSE:CRM) Shares Sold by Mutual of America Capital Management LLC
Mutual of America Capital Management LLC cut its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 4.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 130,219 shares of the CRM provider’s stock after selling 6,093 shares during the quarter. Salesforce comprises approximately 0.4% of Mutual of America Capital Management LLC’s portfolio, making the stock its 27th largest holding. Mutual of America Capital Management LLC’s holdings in Salesforce were worth $34,266,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Aaron Wealth Advisors LLC lifted its holdings in shares of Salesforce by 3.9% during the fourth quarter. Aaron Wealth Advisors LLC now owns 5,089 shares of the CRM provider’s stock worth $1,339,000 after purchasing an additional 190 shares during the period. Custom Index Systems LLC acquired a new stake in shares of Salesforce in the 4th quarter worth $591,000. Aspiriant LLC boosted its holdings in shares of Salesforce by 13.5% in the fourth quarter. Aspiriant LLC now owns 10,513 shares of the CRM provider’s stock valued at $2,766,000 after acquiring an additional 1,249 shares in the last quarter. Blossom Wealth Management acquired a new position in shares of Salesforce during the fourth quarter worth about $234,000. Finally, Jmac Enterprises LLC raised its holdings in Salesforce by 2.0% during the fourth quarter. Jmac Enterprises LLC now owns 4,131 shares of the CRM provider’s stock worth $1,087,000 after purchasing an additional 82 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at Salesforce
In other Salesforce news, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Salesforce news, CFO Amy E. Weaver sold 7,074 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $284.00, for a total value of $2,009,016.00. Following the transaction, the chief financial officer now owns 38,993 shares in the company, valued at approximately $11,074,012. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 293,965 shares of the firm’s stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $280.00, for a total value of $82,310,200.00. The disclosure for this sale can be found here. Insiders sold 907,375 shares of company stock valued at $262,519,346 over the last 90 days. Corporate insiders own 3.70% of the company’s stock.
Salesforce Trading Down 0.2 %
NYSE CRM opened at $299.15 on Friday. The company has a market cap of $290.18 billion, a P/E ratio of 71.23, a P/E/G ratio of 2.30 and a beta of 1.28. Salesforce, Inc. has a 12 month low of $189.53 and a 12 month 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 company has a 50-day moving average of $298.65 and a 200-day moving average of $258.37.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.01 earnings per share. As a group, equities analysts predict 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. Shareholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. The ex-dividend date was 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%.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Wedbush lifted their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, February 29th. StockNews.com cut Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Mizuho reissued a “buy” rating and issued a $345.00 target price (up previously from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Oppenheimer upped their price target on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Salesforce from $260.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Nine 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $304.97.
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.
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