Quantum Private Wealth LLC Sells 48 Shares of Salesforce, Inc. (NYSE:CRM)

Quantum Private Wealth LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,617 shares of the CRM provider’s stock after selling 48 shares during the period. Quantum Private Wealth LLC’s holdings in Salesforce were worth $1,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of CRM. State Street Corp grew its holdings in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC lifted its position in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after acquiring an additional 314,530 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Salesforce by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent analyst reports. Piper Sandler reiterated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Guggenheim downgraded shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price for the company. in a report on Monday, January 6th. Citigroup raised their price target on Salesforce from $368.00 to $390.00 and gave the company a “neutral” rating in a report on Wednesday, December 4th. Royal Bank of Canada upped their price objective on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Stock Down 1.3 %

Shares of NYSE CRM opened at $325.49 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm has a 50-day simple moving average of $336.56 and a two-hundred day simple moving average of $302.79. The company has a market cap of $311.49 billion, a P/E ratio of 53.53, a PEG ratio of 2.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last issued 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 business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. Research analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $167,970.00. Following the sale, the chief accounting officer now directly owns 6,557 shares of the company’s stock, valued at approximately $2,202,758.58. This trade represents a 7.09 % 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 90 days. Company insiders own 3.20% of the company’s stock.

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.