Bray Capital Advisors Sells 2,500 Shares of Salesforce, Inc. (NYSE:CRM)

Bray Capital Advisors decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 13.8% in the fourth quarter, Holdings Channel reports. The firm owned 15,596 shares of the CRM provider’s stock after selling 2,500 shares during the quarter. Salesforce accounts for about 1.4% of Bray Capital Advisors’ portfolio, making the stock its 18th biggest position. Bray Capital Advisors’ holdings in Salesforce were worth $5,214,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This trade represents a 2.54 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $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. Insiders sold 1,102,833 shares of company stock valued at $381,389,136 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $318.76 on Friday. The firm has a market capitalization of $305.06 billion, a PE ratio of 52.43, a price-to-earnings-growth ratio of 2.64 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a 50-day moving average price of $334.23 and a 200-day moving average price of $304.76. 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 (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. Salesforce’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CRM. The Goldman Sachs Group raised their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Canaccord Genuity Group raised their target price on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday. They issued a “buy” rating on the stock. Oppenheimer restated an “outperform” rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Bank of America increased their price target on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $376.84.

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.