Salesforce, Inc. (NYSE:CRM) Shares Sold by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,098 shares of the CRM provider's stock after selling 4,603 shares during the period. Beacon Pointe Advisors LLC's holdings in Salesforce were worth $17,752,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CRM. Invst LLC raised its holdings in Salesforce by 4.2% in the third quarter. Invst LLC now owns 17,003 shares of the CRM provider's stock valued at $4,654,000 after buying an additional 685 shares during the period. Passumpsic Savings Bank raised its holdings in Salesforce by 1.2% in the third quarter. Passumpsic Savings Bank now owns 7,332 shares of the CRM provider's stock valued at $2,007,000 after buying an additional 87 shares during the period. Anchor Investment Management LLC raised its holdings in Salesforce by 15.7% in the third quarter. Anchor Investment Management LLC now owns 4,290 shares of the CRM provider's stock valued at $1,174,000 after buying an additional 581 shares during the period. Pine Valley Investments Ltd Liability Co raised its holdings in Salesforce by 14.0% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 7,047 shares of the CRM provider's stock valued at $1,930,000 after buying an additional 866 shares during the period. Finally, World Investment Advisors LLC raised its holdings in Salesforce by 570.4% in the third quarter. World Investment Advisors LLC now owns 54,446 shares of the CRM provider's stock valued at $14,903,000 after buying an additional 46,324 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Wells Fargo & Company cut their price target on shares of Salesforce from $310.00 to $255.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Loop Capital dropped their price objective on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a research note on Thursday, February 27th. Morgan Stanley dropped their price objective on shares of Salesforce from $405.00 to $393.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Canaccord Genuity Group dropped their price objective on shares of Salesforce from $415.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Citigroup reiterated a "buy" rating on shares of Salesforce in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $351.37.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the completion of the transaction, the chief accounting officer now owns 6,557 shares of the company's stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $15,705,195. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,051 shares of company stock worth $15,027,714. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of NYSE:CRM opened at $265.61 on Tuesday. The firm's 50 day moving average is $272.58 and its two-hundred day moving average is $308.39. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm has a market capitalization of $255.25 billion, a P/E ratio of 43.69, a PEG ratio of 2.58 and a beta of 1.38. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This represents a $1.68 annualized dividend and a dividend yield of 0.63%. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is presently 26.10%.

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.

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