Rothschild Investment LLC Sells 40,835 Shares of Salesforce, Inc. (NYSE:CRM)

Rothschild Investment LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 92.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,523 shares of the CRM provider’s stock after selling 40,835 shares during the period. Rothschild Investment LLC’s holdings in Salesforce were worth $1,178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC boosted its position in 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 in the last quarter. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the 4th quarter worth $30,000. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter valued at about $31,000. Collier Financial purchased a new position in Salesforce in the fourth quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in Salesforce in the third quarter worth about $27,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on CRM shares. UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Piper Sandler set a $405.00 price objective on Salesforce in a report on Tuesday, January 21st. Macquarie restated a “neutral” rating and set a $370.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Wedbush reiterated an “outperform” rating and issued a $425.00 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-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction 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 directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Miguel Milano sold 458 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the sale, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,102,572 shares of company stock valued at $381,283,706. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 0.5 %

CRM opened at $308.27 on Tuesday. The company has a fifty day moving average of $332.36 and a two-hundred day moving average of $306.60. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $295.01 billion, a price-to-earnings ratio of 50.70, a PEG ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced 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 business had revenue of $9.44 billion during 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%. Salesforce’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is 26.32%.

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.