MWA Asset Management Sells 203 Shares of Salesforce, Inc. (NYSE:CRM)

MWA Asset Management trimmed its position in Salesforce, Inc. (NYSE:CRM) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,620 shares of the CRM provider’s stock after selling 203 shares during the quarter. MWA Asset Management’s holdings in Salesforce were worth $1,210,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the third quarter valued at approximately $27,000. Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted its holdings in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the last quarter. FSA Wealth Management LLC bought a new position in Salesforce during the third quarter worth $53,000. Finally, Friedenthal Financial acquired a new position in shares of Salesforce in the fourth quarter valued at $55,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 1,785 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $344.00, for a total value of $614,040.00. Following the completion of the sale, the insider now directly owns 19,116 shares of the company’s stock, valued at $6,575,904. The trade was a 8.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of CRM stock opened at $325.81 on Friday. The business’s 50-day moving average price is $339.05 and its 200-day moving average price is $299.87. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 3.09 and a beta of 1.31.

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

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages recently commented on CRM. TD Cowen raised shares of Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the stock from $380.00 to $400.00 in a report on Friday, January 17th. Loop Capital boosted their price objective on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Morgan Stanley increased their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Macquarie restated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Jefferies Financial Group increased their price objective on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

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.