Bigelow Investment Advisors LLC Sells 254 Shares of Salesforce, Inc. (NYSE:CRM)

Bigelow Investment Advisors LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,768 shares of the CRM provider’s stock after selling 254 shares during the quarter. Bigelow Investment Advisors LLC’s holdings in Salesforce were worth $591,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter valued at approximately $27,000. Arlington Trust Co LLC lifted its holdings in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares during the period. Compass Financial Services Inc bought a new stake in Salesforce during the fourth quarter worth $30,000. Asset Planning Inc bought a new stake in Salesforce during the fourth quarter worth $31,000. Finally, Collier Financial bought a new stake in Salesforce during the fourth quarter worth $32,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at $18,474,323. The trade was a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders sold a total of 1,111,420 shares of company stock valued at $384,366,700 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.6 %

Shares of CRM stock opened at $328.62 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average price of $335.64 and a two-hundred day moving average price of $304.52. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The firm has a market cap of $314.49 billion, a P/E ratio of 54.05, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31.

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 the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm earned $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. DA Davidson lifted their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Northland Securities reiterated an “outperform” rating and set a $440.00 price target (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Wedbush reiterated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, Scotiabank raised their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.