Hyman Charles D Sells 150 Shares of Salesforce, Inc. (NYSE:CRM)

Hyman Charles D lowered its stake in Salesforce, Inc. (NYSE:CRM) by 0.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,459 shares of the CRM provider’s stock after selling 150 shares during the period. Hyman Charles D’s holdings in Salesforce were worth $5,647,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bear Mountain Capital Inc. bought a new stake in Salesforce during the 4th quarter valued at about $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the 4th quarter worth approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. Pacifica Partners Inc. boosted its stake in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Salesforce during the 4th quarter valued at $34,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Up 0.6 %

Shares of NYSE CRM traded up $1.58 during trading hours on Tuesday, hitting $277.21. 3,507,109 shares of the company traded hands, compared to its average volume of 5,527,244. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $293.29 and its 200 day moving average price is $267.99. The stock has a market capitalization of $268.34 billion, a price-to-earnings ratio of 66.00, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results 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 firm had revenue of $9.29 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business’s revenue was up 10.8% on a year-over-year basis. During the same quarter last year, the business earned $1.01 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were issued a dividend of $0.40 per share. 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 payout ratio is currently 9.52%.

Wall Street Analyst Weigh In

CRM has been the topic of several research analyst reports. Wolfe Research restated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research report on Friday, January 19th. KeyCorp began coverage on Salesforce in a report on Thursday, March 21st. They set a “sector weight” rating on the stock. Robert W. Baird raised their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, Bank of America upped their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Nine research 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’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $310.61.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the sale, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at approximately $3,425,005,846.31. The disclosure for this sale can be found here. Insiders have sold 634,993 shares of company stock valued at $185,373,074 in the last quarter. 3.70% of the stock is owned by insiders.

About Salesforce

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.