Adell Harriman & Carpenter Inc. Sells 743 Shares of Salesforce, Inc. (NYSE:CRM)

Adell Harriman & Carpenter Inc. decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 38,086 shares of the CRM provider’s stock after selling 743 shares during the period. Salesforce accounts for 0.9% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 29th largest position. Adell Harriman & Carpenter Inc.’s holdings in Salesforce were worth $12,733,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new stake in shares of Salesforce during the fourth quarter valued at $30,000. Asset Planning Inc bought a new position in shares of Salesforce in the fourth quarter worth about $31,000. Collier Financial purchased a new position in Salesforce in the 4th quarter worth about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter valued at about $27,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CRM. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their target price for the company from $380.00 to $400.00 in a research report on Friday, January 17th. Loop Capital upped their target price on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a report on Wednesday, December 4th. Stifel Nicolaus raised 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, Wells Fargo & Company upped their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Performance

NYSE CRM opened at $325.49 on Friday. The firm has a market capitalization of $311.49 billion, a P/E ratio of 53.53, a PEG ratio of 2.66 and a beta of 1.31. The stock has a 50-day simple moving average of $337.29 and a two-hundred day simple moving average of $302.33. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) 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 company’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.62 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.49%. Salesforce’s payout ratio is 26.32%.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 in the last ninety days. 3.20% of the stock is currently owned by corporate 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.