Salesforce, Inc. (NYSE:CRM) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,082 shares of the CRM provider’s stock after selling 99 shares during the quarter. Jacobi Capital Management LLC’s holdings in Salesforce were worth $2,033,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nvest Financial LLC boosted its stake in Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the period. OMC Financial Services LTD boosted its stake in Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after purchasing an additional 31 shares during the period. Capital Advisors Ltd. LLC boosted its stake in Salesforce by 4.1% during the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after purchasing an additional 31 shares during the period. Sachetta LLC boosted its stake in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after purchasing an additional 32 shares during the period. Finally, Prossimo Advisors LLC boosted its stake in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after purchasing an additional 32 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Salesforce stock opened at $297.63 on Friday. The stock has a 50-day simple moving average of $329.11 and a 200 day simple moving average of $307.21. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock has a market capitalization of $284.83 billion, a price-to-earnings ratio of 48.95, a P/E/G ratio of 2.58 and a beta of 1.31.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm 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%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.62 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share 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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on CRM shares. Robert W. Baird reduced their price target on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research note on Thursday. Jefferies Financial Group upped their price target on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. DA Davidson reduced their price target on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a research note on Thursday. Guggenheim reaffirmed a “sell” rating and issued a $247.00 price target on shares of Salesforce in a research note on Thursday. Finally, Scotiabank reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating for the company in a research note on Thursday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $365.32.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 458 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $307.97, for a total value of $141,050.26. Following the transaction, the insider now directly owns 5,864 shares of the company’s stock, valued at $1,805,936.08. This represents a 7.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 942 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $339.78, for a total value of $320,072.76. Following the completion of the transaction, the insider now directly owns 120,333 shares in the company, valued at approximately $40,886,746.74. This represents a 0.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,102,572 shares of company stock valued at $381,283,706 in the last quarter. 3.20% of the stock is currently owned by insiders.

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.