Cypress Point Wealth Management LLC Has $516,000 Holdings in Salesforce, Inc. (NYSE:CRM)

Cypress Point Wealth Management LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 21.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,543 shares of the CRM provider’s stock after selling 420 shares during the period. Cypress Point Wealth Management LLC’s holdings in Salesforce were worth $516,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C bought a new stake in Salesforce during the 2nd quarter worth approximately $409,000. Vulcan Value Partners LLC grew its position in shares of Salesforce by 76.1% in the 2nd quarter. Vulcan Value Partners LLC now owns 1,476,111 shares of the CRM provider’s stock valued at $379,469,000 after buying an additional 637,710 shares during the last quarter. Ascent Group LLC raised its position in shares of Salesforce by 15.2% during the second quarter. Ascent Group LLC now owns 19,556 shares of the CRM provider’s stock worth $5,028,000 after acquiring an additional 2,581 shares during the last quarter. Aviso Wealth Management boosted its holdings in Salesforce by 10.9% in the second quarter. Aviso Wealth Management now owns 3,075 shares of the CRM provider’s stock valued at $791,000 after acquiring an additional 302 shares during the last quarter. Finally, Doheny Asset Management CA bought a new position in Salesforce during the 2nd quarter worth approximately $1,799,000. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 500 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the sale, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at approximately $1,888,236.38. This represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,173,891 shares of company stock worth $402,840,388 in the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of CRM stock opened at $333.47 on Friday. The firm’s 50-day moving average is $336.73 and its two-hundred day moving average is $294.01. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 earnings per share. Analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s payout ratio is 26.32%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. 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 note on Friday, December 13th. TD Cowen upgraded shares of Salesforce from a “hold” rating to a “buy” rating and upped their price objective for the company from $380.00 to $400.00 in a report on Friday, January 17th. Wells Fargo & Company raised their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Jefferies Financial Group increased their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada upped their target price on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has an average 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.