Salesforce, Inc. (NYSE:CRM) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,856 shares of the CRM provider's stock after selling 783 shares during the quarter. Premier Path Wealth Partners LLC's holdings in Salesforce were worth $2,961,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CRM. Infrastructure Capital Advisors LLC purchased a new position in shares of Salesforce in the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the 2nd quarter worth approximately $33,000. Godsey & Gibb Inc. lifted its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC grew its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider's stock valued at $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC bought a new position in shares of Salesforce in the third quarter worth $53,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

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

Salesforce (NYSE:CRM - Get Free Report) last announced 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 firm had revenue of $9.44 billion during the quarter, compared to analysts' expectations of $9.35 billion. During the same period last year, the company earned $1.62 earnings per share. The business's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce's payout ratio is 26.32%.

Wall Street Analyst Weigh In

CRM has been the topic of several recent analyst reports. Royal Bank of Canada raised their price target on Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Wedbush reissued an "outperform" rating and issued a $425.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. UBS Group lifted their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a "neutral" rating in a report on Friday, November 22nd. Jefferies Financial Group raised their price target on Salesforce from $400.00 to $425.00 and gave the company a "buy" rating in a research report on Wednesday, December 4th. Finally, Barclays increased their price objective on Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $377.63.

Insider Buying and Selling

In related news, COO Brian Millham sold 6,161 shares of the stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the sale, the chief operating officer now owns 969 shares of the company's stock, valued at $280,767.75. This represents a 86.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was 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 in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock valued at $405,595,158 over the last quarter. 3.20% of the stock is owned by corporate insiders.

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.