New Wave Wealth Advisors LLC Lowers Position in Salesforce, Inc. (NYSE:CRM)

New Wave Wealth Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,015 shares of the CRM provider’s stock after selling 165 shares during the quarter. New Wave Wealth Advisors LLC’s holdings in Salesforce were worth $339,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new stake in shares of Salesforce in the third quarter worth approximately $27,000. Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Salesforce during the second quarter valued at approximately $33,000. Annapolis Financial Services LLC increased its position in shares of Salesforce by 135.6% during the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after acquiring an additional 80 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in shares of Salesforce during the fourth quarter valued at approximately $55,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,669 shares of company stock worth $383,286,905. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $343.51 on Friday. The firm has a market cap of $328.74 billion, a PE ratio of 56.50, a P/E/G ratio of 3.20 and a beta of 1.30. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a fifty day simple moving average of $338.68 and a two-hundred day simple moving average of $296.75. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Robert W. Baird increased their price target on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. UBS Group increased their price objective on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Finally, DA Davidson increased their price objective on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $377.63.

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.