Crumly & Associates Inc. Sells 67 Shares of Salesforce, Inc. (NYSE:CRM)

Crumly & Associates Inc. trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,177 shares of the CRM provider’s stock after selling 67 shares during the quarter. Crumly & Associates Inc.’s holdings in Salesforce were worth $728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Foundations Investment Advisors LLC boosted its position in shares of Salesforce by 15.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock valued at $12,194,000 after acquiring an additional 4,752 shares during the period. Nabity Jensen Investment Management Inc bought a new stake in shares of Salesforce in the third quarter valued at about $1,215,000. Prime Capital Investment Advisors LLC boosted its position in shares of Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after acquiring an additional 6,938 shares during the period. Aljian Capital Management LLC boosted its position in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after acquiring an additional 1,834 shares during the period. Finally, AIA Group Ltd boosted its position in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after acquiring an additional 1,962 shares during the period. 80.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. This represents a 11.74 % decrease in their position. The transaction was disclosed in a filing 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 stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,102,833 shares of company stock worth $381,389,136. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $318.76 on Friday. The business’s 50 day simple moving average is $334.23 and its 200 day simple moving average is $304.76. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The stock has a market capitalization of $305.06 billion, a PE ratio of 52.43, a PEG ratio of 2.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the company earned $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CRM. UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus boosted their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 target price for the company in a research report on Friday, December 13th. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the stock from $380.00 to $400.00 in a research report on Friday, January 17th. Finally, Macquarie reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $376.84.

Salesforce Company 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.