Cohen Klingenstein LLC Sells 1,000 Shares of Salesforce, Inc. (NYSE:CRM)

Cohen Klingenstein LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,300 shares of the CRM provider's stock after selling 1,000 shares during the period. Cohen Klingenstein LLC's holdings in Salesforce were worth $9,127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sanibel Captiva Trust Company Inc. raised its position in shares of Salesforce by 0.6% during the 4th quarter. Sanibel Captiva Trust Company Inc. now owns 126,826 shares of the CRM provider's stock worth $42,402,000 after purchasing an additional 763 shares during the last quarter. Howard Financial Services LTD. raised its stake in Salesforce by 23.3% in the 4th quarter. Howard Financial Services LTD. now owns 1,416 shares of the CRM provider's stock valued at $473,000 after purchasing an additional 268 shares during the last quarter. Integrated Investment Consultants LLC lifted its holdings in Salesforce by 3.6% in the 4th quarter. Integrated Investment Consultants LLC now owns 1,510 shares of the CRM provider's stock valued at $505,000 after purchasing an additional 52 shares in the last quarter. Arkadios Wealth Advisors boosted its stake in shares of Salesforce by 11.1% during the 4th quarter. Arkadios Wealth Advisors now owns 42,050 shares of the CRM provider's stock worth $14,059,000 after purchasing an additional 4,212 shares during the last quarter. Finally, Dakota Community Bank & Trust NA grew its holdings in shares of Salesforce by 32.5% during the fourth quarter. Dakota Community Bank & Trust NA now owns 591 shares of the CRM provider's stock worth $198,000 after buying an additional 145 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the topic of a number of analyst reports. Wedbush reaffirmed an "outperform" rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus raised their price target on Salesforce from $390.00 to $425.00 and gave the stock a "buy" rating in a research note on Wednesday, December 4th. Barclays upped their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Bank of America boosted their target price on shares of Salesforce from $390.00 to $440.00 and gave the company a "buy" rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC boosted their price objective on shares of Salesforce from $375.00 to $400.00 and gave the company a "buy" rating in a research note on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $377.63.

Salesforce Price Performance

Shares of NYSE:CRM traded up $4.77 on Friday, reaching $324.77. 6,283,814 shares of the company traded hands, compared to its average volume of 4,604,853. The stock has a market capitalization of $310.81 billion, a PE ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company's 50 day moving average is $337.31 and its 200-day moving average is $291.56. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results 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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.35 billion. During the same period in the prior year, the business posted $1.62 EPS. The company's revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 dividend yield of 0.49%. Salesforce's dividend payout ratio is currently 26.32%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now directly owns 45,861 shares of the company's stock, valued at approximately $15,128,626.68. The trade was a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,183,838 shares of company stock valued at $405,595,158. Insiders own 3.20% of the company's stock.

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.