Bfsg LLC Sells 152 Shares of Salesforce, Inc. (NYSE:CRM)

Bfsg LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 3.7% in the fourth quarter, HoldingsChannel reports. The fund owned 3,902 shares of the CRM provider’s stock after selling 152 shares during the quarter. Bfsg LLC’s holdings in Salesforce were worth $1,305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at $27,000. Arlington Trust Co LLC grew its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter valued at $30,000. Asset Planning Inc purchased a new position in shares of Salesforce during the 4th quarter valued at $31,000. Finally, Collier Financial purchased a new position in shares of Salesforce during the 4th quarter valued at $32,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,111,420 shares of company stock worth $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM stock opened at $328.62 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $314.49 billion, a P/E ratio of 54.05, a P/E/G ratio of 2.66 and a beta of 1.31. The company’s 50-day simple moving average is $335.64 and its two-hundred day simple moving average is $304.52. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

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

Salesforce Dividend Announcement

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

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Loop Capital lifted their target price on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Scotiabank lifted their target price on shares of Salesforce from $425.00 to $440.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Stifel Nicolaus lifted their target price 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. Canaccord Genuity Group lifted their target price on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.