Boyd Watterson Asset Management LLC OH Decreases Position in Salesforce, Inc. (NYSE:CRM)

Boyd Watterson Asset Management LLC OH lessened its stake in Salesforce, Inc. (NYSE:CRM) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,781 shares of the CRM provider’s stock after selling 204 shares during the period. Boyd Watterson Asset Management LLC OH’s holdings in Salesforce were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new position in Salesforce in the 3rd quarter valued at about $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% in 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 in the last quarter. Compass Financial Services Inc acquired a new stake in shares of Salesforce in the fourth quarter valued at about $30,000. Asset Planning Inc purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial purchased a new stake in Salesforce during the fourth quarter worth $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. KeyCorp raised shares of Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a report on Friday, December 13th. Piper Sandler restated an “overweight” rating and issued a $405.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective for the company. in a report on Monday, January 6th. JMP Securities reissued a “market outperform” rating and set a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Robert W. Baird raised their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $375.53.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $15,342,415. This trade represents a 11.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the completion of the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,102,833 shares of company stock valued at $381,389,136. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $309.54 on Friday. The stock’s fifty day moving average is $333.34 and its two-hundred day moving average is $305.25. The stock has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 2.63 and a beta of 1.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

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

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued 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 0.52%. Salesforce’s payout ratio is 26.32%.

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.