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

Boltwood Capital Management cut its position in Salesforce, Inc. (NYSE:CRM) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,448 shares of the CRM provider’s stock after selling 185 shares during the period. Salesforce makes up 1.0% of Boltwood Capital Management’s holdings, making the stock its 28th largest position. Boltwood Capital Management’s holdings in Salesforce were worth $3,159,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC grew its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at about $33,000. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Finally, Annapolis Financial Services LLC raised its position in Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

CRM traded up $1.59 on Monday, reaching $334.49. The company had a trading volume of 1,601,796 shares, compared to its average volume of 3,466,048. The stock has a market capitalization of $320.11 billion, a PE ratio of 55.01, a P/E/G ratio of 3.21 and a beta of 1.30. The stock has a 50-day moving average price of $332.81 and a 200-day moving average price of $286.81. 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, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (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 analyst estimates of $9.35 billion. During the same quarter last year, the firm earned $1.62 EPS. 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 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s payout ratio is currently 26.32%.

Analysts Set New Price Targets

Several equities research analysts have commented on CRM shares. Canaccord Genuity Group upped their price objective on Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. BMO Capital Markets increased their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and issued a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, TD Cowen raised their price objective on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $375.39.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. This represents a 8.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,181,807.88. This trade represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,186,017 shares of company stock worth $405,971,793. Company insiders own 3.20% of the company’s stock.

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.