Keeler Thomas Management LLC Sells 256 Shares of Salesforce, Inc. (NYSE:CRM)

Keeler Thomas Management LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% 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 14,344 shares of the CRM provider’s stock after selling 256 shares during the quarter. Salesforce comprises approximately 1.7% of Keeler Thomas Management LLC’s investment portfolio, making the stock its 29th biggest position. Keeler Thomas Management LLC’s holdings in Salesforce were worth $4,796,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Nvest Financial LLC boosted its holdings in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after buying an additional 31 shares during the period. OMC Financial Services LTD raised its holdings in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after acquiring an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in shares of Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares during the period. Sachetta LLC grew its position in shares of Salesforce by 0.3% in the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 0.5 %

Shares of NYSE:CRM opened at $308.27 on Tuesday. The firm has a market cap of $295.01 billion, a P/E ratio of 50.70, a P/E/G ratio of 2.58 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 business has a fifty day simple moving average of $332.36 and a 200 day simple moving average of $306.60. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last issued 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 return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the business earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. Analysts predict 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. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.52%. Salesforce’s payout ratio is currently 26.32%.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 942 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total transaction of $320,072.76. Following the completion of the sale, the insider now owns 120,333 shares of the company’s stock, valued at $40,886,746.74. This trade represents a 0.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s 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 owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,102,572 shares of company stock valued at $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CRM. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Guggenheim cut shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a research report on Monday, January 6th. Loop Capital lowered their price target on shares of Salesforce from $360.00 to $330.00 and set a “hold” rating on the stock in a research report on Wednesday, February 19th. Piper Sandler set a $405.00 price objective on shares of Salesforce in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada increased their target price on shares of Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $375.53.

About Salesforce

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.