Chickasaw Capital Management LLC Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

Chickasaw Capital Management LLC decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,165 shares of the CRM provider’s stock after selling 70 shares during the quarter. Chickasaw Capital Management LLC’s holdings in Salesforce were worth $2,730,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Norway Savings Bank lifted its holdings in Salesforce by 3.2% in the fourth quarter. Norway Savings Bank now owns 9,615 shares of the CRM provider’s stock worth $3,215,000 after purchasing an additional 297 shares during the period. Spartan Planning & Wealth Management acquired a new stake in shares of Salesforce during the 4th quarter valued at $603,000. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Salesforce by 3.6% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 2,447 shares of the CRM provider’s stock valued at $818,000 after buying an additional 84 shares during the last quarter. Diversified Trust Co raised its holdings in shares of Salesforce by 30.4% during the 4th quarter. Diversified Trust Co now owns 15,899 shares of the CRM provider’s stock valued at $5,316,000 after purchasing an additional 3,706 shares in the last quarter. Finally, Canandaigua National Bank & Trust Co. raised its stake in shares of Salesforce by 3.1% in the 4th quarter. Canandaigua National Bank & Trust Co. now owns 11,332 shares of the CRM provider’s stock valued at $3,789,000 after acquiring an additional 344 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were 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 $280,767.75. This represents a 86.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Down 2.0 %

Shares of NYSE CRM traded down $6.59 during mid-day trading on Tuesday, hitting $323.94. The company had a trading volume of 3,351,142 shares, compared to its average volume of 4,443,352. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company has a market capitalization of $310.01 billion, a PE ratio of 53.28, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The firm has a 50-day simple moving average of $333.53 and a two-hundred day simple moving average of $287.43. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the prior year, the business posted $1.62 earnings per share. Salesforce’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRM. TD Cowen boosted their target price on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a research report on Monday. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Stifel Nicolaus boosted their price target on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Finally, UBS Group lifted their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $375.39.

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.