Victory Capital Management Inc. Sells 3,011 Shares of Salesforce, Inc. (NYSE:CRM)

Victory Capital Management Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 502,164 shares of the CRM provider’s stock after selling 3,011 shares during the quarter. Victory Capital Management Inc. owned 0.05% of Salesforce worth $167,888,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the third quarter worth about $27,000. Arlington Trust Co LLC grew its stake in shares of 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 purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce in the fourth quarter worth about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce in the fourth quarter worth about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce in the fourth quarter worth about $32,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. The trade was a 5.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robin L. Washington acquired 1,695 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average cost of $294.61 per share, with a total value of $499,363.95. Following the transaction, the director now owns 43,445 shares in the company, valued at approximately $12,799,331.45. This trade represents a 4.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 1,108,793 shares of company stock valued at $383,156,227 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 2.0 %

NYSE:CRM opened at $287.10 on Wednesday. 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, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $274.76 billion, a PE ratio of 47.22, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. The company has a 50 day simple moving average of $326.96 and a two-hundred day simple moving average of $308.33.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 company 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 firm posted $1.62 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 dividend yield of 0.56%. The ex-dividend date was Wednesday, December 18th. Salesforce’s payout ratio is 25.16%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Morgan Stanley raised their target price on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Guggenheim restated a “sell” rating and issued a $247.00 price objective on shares of Salesforce in a report on Thursday, February 27th. DA Davidson lowered their price objective on shares of Salesforce from $300.00 to $275.00 and set a “neutral” rating for the company in a report on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $365.32.

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.