Salesforce, Inc. (NYSE:CRM) Shares Sold by Selective Wealth Management Inc.

Selective Wealth Management Inc. decreased its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,944 shares of the CRM provider's stock after selling 1,472 shares during the period. Salesforce accounts for 3.1% of Selective Wealth Management Inc.'s portfolio, making the stock its 6th largest position. Selective Wealth Management Inc.'s holdings in Salesforce were worth $7,747,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in CRM. Dakota Community Bank & Trust NA boosted its holdings in 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 during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. boosted its holdings in Salesforce by 68.8% during the fourth quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 7,765 shares of the CRM provider's stock worth $2,596,000 after buying an additional 3,164 shares during the last quarter. Retirement Wealth Solutions LLC bought a new position in Salesforce during the fourth quarter worth about $67,000. Brooklyn Investment Group boosted its holdings in Salesforce by 6.0% during the fourth quarter. Brooklyn Investment Group now owns 7,594 shares of the CRM provider's stock worth $2,539,000 after buying an additional 427 shares during the last quarter. Finally, Baker Chad R bought a new position in Salesforce during the fourth quarter worth about $2,939,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Performance

Shares of NYSE CRM traded up $4.77 during midday trading on Friday, hitting $324.77. 6,283,814 shares of the company's stock were exchanged, compared to its average volume of 4,604,853. 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 12 month low of $212.00 and a 12 month high of $369.00. The company's 50 day moving average price is $337.31 and its 200 day moving average price is $291.56. The firm has a market capitalization of $310.81 billion, a PE ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business's revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.62 earnings per share. As a group, analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other news, COO Brian Millham sold 6,161 shares of the company's stock in a transaction on Tuesday, October 22nd. The stock was 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 directly owns 969 shares in the company, valued at approximately $280,767.75. This represents a 86.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company's stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock worth $405,595,158 in the last ninety days. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CRM shares. KeyCorp raised Salesforce from a "sector weight" rating to an "overweight" rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. Bank of America raised their price target on Salesforce from $390.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, December 4th. JPMorgan Chase & Co. raised their price target on Salesforce from $340.00 to $380.00 and gave the stock an "overweight" rating in a research report on Wednesday, December 4th. Loop Capital raised their price target on Salesforce from $340.00 to $360.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Finally, TD Cowen raised Salesforce from a "hold" rating to a "buy" rating and raised their price target for the stock from $380.00 to $400.00 in a research report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $377.63.

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.