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

Lyell Wealth Management LP lowered its position in Salesforce, Inc. (NYSE:CRM) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,607 shares of the CRM provider’s stock after selling 516 shares during the period. Salesforce comprises approximately 1.8% of Lyell Wealth Management LP’s holdings, making the stock its 11th largest position. Lyell Wealth Management LP’s holdings in Salesforce were worth $15,948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Sycomore Asset Management increased its holdings in shares of Salesforce by 6.4% in the 4th quarter. Sycomore Asset Management now owns 60,030 shares of the CRM provider’s stock valued at $16,011,000 after purchasing an additional 3,604 shares in the last quarter. Morling Financial Advisors LLC acquired a new position in Salesforce during the fourth quarter worth about $247,000. Harvest Fund Management Co. Ltd increased its holdings in Salesforce by 53.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,859 shares of the CRM provider’s stock valued at $1,542,000 after buying an additional 2,035 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its position in shares of Salesforce by 733.3% during the 4th quarter. Mizuho Securities Co. Ltd. now owns 2,500 shares of the CRM provider’s stock valued at $658,000 after acquiring an additional 2,200 shares during the period. Finally, Madison Park Capital Advisors LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $406,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the transaction, the chief executive officer now directly owns 13,671,166 shares of the company’s stock, valued at approximately $3,838,726,701.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $280.79, for a total transaction of $4,211,850.00. Following the completion of the sale, the chief executive officer now directly owns 13,671,166 shares of the company’s stock, valued at approximately $3,838,726,701.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares in the company, valued at approximately $12,040,011.36. The disclosure for this sale can be found here. Insiders sold 616,589 shares of company stock valued at $181,071,306 over the last quarter. Company insiders own 3.70% of the company’s stock.

Salesforce Trading Down 0.2 %

CRM traded down $0.49 on Wednesday, reaching $276.19. 3,934,969 shares of the company’s stock were exchanged, compared to its average volume of 5,697,396. Salesforce, Inc. has a twelve month low of $190.57 and a twelve month high of $318.71. The company’s 50 day moving average is $296.65 and its 200-day moving average is $263.37. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09. The company has a market cap of $267.90 billion, a price-to-earnings ratio of 65.76, a PEG ratio of 2.11 and a beta of 1.28.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. The company had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.01 earnings per share. Equities analysts predict that Salesforce, Inc. will post 7.45 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Analyst Upgrades and Downgrades

CRM has been the subject of several research reports. Evercore ISI lifted their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Mizuho reiterated a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research report on Thursday, February 29th. Argus increased their price objective on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. JPMorgan Chase & Co. lifted their target price on shares of Salesforce from $260.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, April 15th. Nine investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $310.61.

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.