Guinness Atkinson Asset Management Inc Sells 5,973 Shares of Salesforce, Inc. (NYSE:CRM)

Guinness Atkinson Asset Management Inc decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 22.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,619 shares of the CRM provider's stock after selling 5,973 shares during the quarter. Salesforce comprises approximately 3.5% of Guinness Atkinson Asset Management Inc's holdings, making the stock its 12th biggest holding. Guinness Atkinson Asset Management Inc's holdings in Salesforce were worth $6,894,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in CRM. Aviance Capital Partners LLC boosted its position in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider's stock worth $1,860,000 after purchasing an additional 33 shares during the period. EWA LLC raised its position in shares of Salesforce by 1.7% during the third quarter. EWA LLC now owns 2,001 shares of the CRM provider's stock valued at $548,000 after buying an additional 33 shares during the last quarter. Umpqua Bank raised its holdings in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider's stock valued at $2,110,000 after acquiring an additional 34 shares in the last quarter. Principal Street Partners LLC lifted its position in Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider's stock worth $891,000 after purchasing an additional 34 shares during the period. Finally, Nvwm LLC boosted its position in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider's stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Trading Up 1.5 %

NYSE:CRM traded up $4.77 during trading hours on Monday, hitting $324.77. The stock had a trading volume of 6,283,814 shares, compared to its average volume of 4,604,853. The business's 50 day moving average is $337.31 and its 200-day moving average is $292.02. 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. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. 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 (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts' consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were 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. This represents a 11.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 1,785 shares of the stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $344.00, for a total value of $614,040.00. Following the transaction, the insider now owns 19,116 shares of the company's stock, valued at approximately $6,575,904. This trade represents a 8.54 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays lifted their price objective on Salesforce from $415.00 to $425.00 and gave the company an "overweight" rating in a report on Wednesday, December 4th. Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a research report on Tuesday, November 19th. Needham & Company LLC increased their price objective on Salesforce from $375.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, January 8th. JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the company an "overweight" rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada lifted their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $377.63.

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.