Salesforce, Inc. (NYSE:CRM) Shares Sold by Twin Capital Management Inc.

Twin Capital Management Inc. decreased its stake in Salesforce, Inc. (NYSE:CRM) by 2.2% during the 4th quarter, Holdings Channel reports. The firm owned 24,106 shares of the CRM provider’s stock after selling 553 shares during the quarter. Salesforce makes up approximately 0.8% of Twin Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Twin Capital Management Inc.’s holdings in Salesforce were worth $6,343,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Delta Financial Advisors LLC boosted its position in Salesforce by 44.8% during the fourth quarter. Delta Financial Advisors LLC now owns 3,233 shares of the CRM provider’s stock worth $851,000 after acquiring an additional 1,000 shares during the last quarter. Federated Hermes Inc. boosted its position in Salesforce by 1.6% during the fourth quarter. Federated Hermes Inc. now owns 418,196 shares of the CRM provider’s stock worth $110,044,000 after acquiring an additional 6,525 shares during the last quarter. Roman Butler Fullerton & Co. boosted its position in Salesforce by 1.4% during the fourth quarter. Roman Butler Fullerton & Co. now owns 7,881 shares of the CRM provider’s stock worth $2,206,000 after acquiring an additional 105 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in Salesforce by 6.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 12,236 shares of the CRM provider’s stock worth $3,220,000 after acquiring an additional 782 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Salesforce by 4.2% during the fourth quarter. Daiwa Securities Group Inc. now owns 166,765 shares of the CRM provider’s stock worth $43,883,000 after acquiring an additional 6,713 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider R David Schmaier sold 3,910 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total value of $1,074,350.70. Following the completion of the transaction, the insider now owns 19,463 shares in the company, valued at approximately $5,347,848.51. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Amy E. Weaver sold 7,074 shares of the company’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 completion of the sale, the chief financial officer now owns 38,993 shares in the company, valued at approximately $11,074,012. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 3,910 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the completion of the sale, the insider now owns 19,463 shares of the company’s stock, valued at approximately $5,347,848.51. The disclosure for this sale can be found here. In the last quarter, insiders sold 907,149 shares of company stock worth $262,952,448. Corporate insiders own 3.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRM shares. Morgan Stanley raised shares of Salesforce from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. Robert W. Baird lifted their target price on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 target price (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Mizuho reaffirmed a “buy” rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a research note on Thursday, February 29th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $307.87.

Salesforce Stock Down 2.0 %

NYSE CRM traded down $5.45 on Thursday, hitting $270.87. 2,497,330 shares of the stock were exchanged, compared to its average volume of 5,661,253. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $190.57 and a fifty-two week high of $318.71. The company has a market cap of $262.74 billion, a PE ratio of 65.28, a PEG ratio of 2.13 and a beta of 1.28. The company has a 50-day moving average price of $298.10 and a 200-day moving average price of $260.89.

Salesforce (NYSE:CRM) last posted 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. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The company had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue was up 10.8% on a year-over-year basis. Sell-side analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

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.