Teamwork Financial Advisors LLC Sells 139 Shares of Salesforce, Inc. (NYSE:CRM)

Teamwork Financial Advisors LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,208 shares of the CRM provider’s stock after selling 139 shares during the quarter. Teamwork Financial Advisors LLC’s holdings in Salesforce were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Veritas Asset Management LLP purchased a new position in shares of Salesforce during the third quarter worth approximately $733,805,000. KBC Group NV lifted its stake in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Salesforce by 23,664.2% during the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares during the period. Ameriprise Financial Inc. grew its position in Salesforce by 25.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after acquiring an additional 877,495 shares during the last quarter. Finally, State Street Corp lifted its position in Salesforce by 1.8% in the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This represents a 10.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 1,785 shares of Salesforce stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $344.00, for a total transaction of $614,040.00. Following the sale, the insider now owns 19,116 shares in the company, valued at approximately $6,575,904. The trade was a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,171,198 shares of company stock worth $401,945,558. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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 research report on Wednesday, December 4th. Wedbush reissued an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Morgan Stanley raised their price target on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Finally, Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

Shares of NYSE CRM opened at $332.67 on Thursday. 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 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market capitalization of $318.37 billion, a price-to-earnings ratio of 54.72, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30. The firm has a 50 day moving average of $336.50 and a 200 day moving average of $293.20.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company 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 firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date was Wednesday, December 18th. 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.