Cyndeo Wealth Partners LLC Sells 461 Shares of Salesforce, Inc. (NYSE:CRM)

Cyndeo Wealth Partners LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,405 shares of the CRM provider’s stock after selling 461 shares during the quarter. Cyndeo Wealth Partners LLC’s holdings in Salesforce were worth $6,822,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the third quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. boosted its stake in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC increased its holdings in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new position in shares of Salesforce in the third quarter worth $53,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, Director G Mason Morfit sold 722,300 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now owns 3,192,009 shares of the company’s stock, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 708 shares of Salesforce stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $235,254.24. Following the transaction, the chief operating officer now directly owns 1,239 shares of the company’s stock, valued at approximately $411,694.92. This represents a 36.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,173,891 shares of company stock worth $402,840,388 in the last three months. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of several research analyst reports. Robert W. Baird lifted their price objective on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Macquarie reaffirmed a “neutral” rating and set a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Loop Capital boosted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Wedbush restated an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Morgan Stanley boosted their target price on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Down 0.4 %

Shares of Salesforce stock opened at $333.47 on Friday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $336.73 and a 200-day moving average price of $294.01. The firm has a market cap of $319.13 billion, a price-to-earnings ratio of 54.85, a PEG ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

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.