MONECO Advisors LLC Sells 55 Shares of Salesforce, Inc. (NYSE:CRM)

MONECO Advisors LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,563 shares of the CRM provider’s stock after selling 55 shares during the period. MONECO Advisors LLC’s holdings in Salesforce were worth $1,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc purchased a new position in Salesforce during the 4th quarter valued at about $30,000. Asset Planning Inc bought a new position in Salesforce in the 4th quarter worth about $31,000. Collier Financial purchased a new stake in Salesforce during the 4th quarter valued at about $32,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce in the third quarter worth approximately $27,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 942 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $339.78, for a total value of $320,072.76. Following the sale, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. The trade was a 0.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,102,114 shares of company stock valued at $381,142,656 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $309.54 on Monday. The stock has a 50-day moving average price of $333.34 and a 200 day moving average price of $306.18. The stock has a market capitalization of $296.23 billion, a P/E ratio of 50.91, a P/E/G ratio of 2.58 and a beta of 1.31. 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.

Salesforce (NYSE:CRM) last announced its quarterly earnings data 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). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.52%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on CRM shares. KeyCorp upgraded shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a report on Friday, December 13th. Truist Financial reaffirmed 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. Northland Securities reiterated an “outperform” rating and issued a $440.00 price objective (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Barclays boosted their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Finally, Jefferies Financial Group raised their price target on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $375.53.

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.