Mirabaud & Cie SA Sells 8,290 Shares of Salesforce, Inc. (NYSE:CRM)

Mirabaud & Cie SA decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 89.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 985 shares of the CRM provider’s stock after selling 8,290 shares during the quarter. Mirabaud & Cie SA’s holdings in Salesforce were worth $329,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce during the 3rd quarter worth about $27,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter valued at $33,000. Annapolis Financial Services LLC boosted its stake in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Finally, Friedenthal Financial purchased a new position in Salesforce in the 4th quarter worth about $55,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In related news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,172,167 shares of company stock valued at $402,223,235. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.7 %

Shares of CRM stock opened at $326.85 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a 50 day moving average of $336.97 and a 200 day moving average of $292.47. The stock has a market cap of $312.79 billion, a P/E ratio of 53.76, a P/E/G ratio of 2.93 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the company posted $1.62 earnings per share. The business’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Stifel Nicolaus lifted their price target on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. The Goldman Sachs Group raised their price target on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. BMO Capital Markets upped their price objective on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, Needham & Company LLC raised their target price on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce 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.