Bryn Mawr Capital Management LLC Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

Bryn Mawr Capital Management LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 1.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,021 shares of the CRM provider’s stock after selling 148 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Salesforce were worth $2,900,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Motley Fool Asset Management LLC raised its stake in shares of Salesforce by 1.4% in the 4th quarter. Motley Fool Asset Management LLC now owns 71,112 shares of the CRM provider’s stock valued at $18,712,000 after acquiring an additional 988 shares during the period. Bradley & Co. Private Wealth Management LLC grew its holdings in Salesforce by 0.7% during the 4th quarter. Bradley & Co. Private Wealth Management LLC now owns 27,462 shares of the CRM provider’s stock valued at $7,226,000 after purchasing an additional 187 shares in the last quarter. Jackson Hole Capital Partners LLC grew its holdings in Salesforce by 9.5% during the 4th quarter. Jackson Hole Capital Partners LLC now owns 10,224 shares of the CRM provider’s stock valued at $2,690,000 after purchasing an additional 885 shares in the last quarter. Syon Capital LLC grew its holdings in Salesforce by 10.0% during the 4th quarter. Syon Capital LLC now owns 5,683 shares of the CRM provider’s stock valued at $1,495,000 after purchasing an additional 517 shares in the last quarter. Finally, Meritage Portfolio Management acquired a new stake in Salesforce during the 4th quarter valued at $5,965,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Robert W. Baird raised their price target on shares of Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a report on Thursday, February 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Monday, April 15th. Stifel Nicolaus reaffirmed a “buy” rating and set a $350.00 price target on shares of Salesforce in a report on Wednesday, April 3rd. Piper Sandler reissued a “neutral” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, April 15th. Finally, Argus raised their price objective on shares of Salesforce from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Nine analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Salesforce Trading Up 0.4 %

Shares of Salesforce stock traded up $1.07 during trading on Friday, hitting $274.21. The stock had a trading volume of 3,753,890 shares, compared to its average volume of 5,661,873. The stock has a 50 day simple moving average of $295.97 and a 200 day simple moving average of $263.90. Salesforce, Inc. has a 1 year low of $190.76 and a 1 year high of $318.71. The company has a market capitalization of $265.98 billion, a PE ratio of 65.29, a P/E/G ratio of 2.12 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for 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%. The firm’s revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the completion of the sale, the chief executive officer now directly owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $276.65, for a total value of $4,149,750.00. Following the completion of the sale, the chief executive officer now directly owns 12,782,327 shares in the company, valued at $3,536,230,764.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 4,204 shares of the company’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $278.00, for a total transaction of $1,168,712.00. The disclosure for this sale can be found here. Insiders sold 620,793 shares of company stock worth $182,177,918 over the last ninety days. 3.70% of the stock is currently owned by insiders.

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.