Partners Capital Investment Group LLP Trims Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Partners Capital Investment Group LLP trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 53.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,985 shares of the CRM provider’s stock after selling 18,154 shares during the quarter. Partners Capital Investment Group LLP’s holdings in Salesforce were worth $5,344,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CRM. RBA Wealth Management LLC grew its stake in Salesforce by 3.7% in the third quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after purchasing an additional 574 shares in the last quarter. Creative Planning grew its stake in Salesforce by 8.0% in the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after purchasing an additional 17,350 shares in the last quarter. Net Worth Advisory Group bought a new position in Salesforce in the third quarter worth approximately $340,000. Embree Financial Group grew its stake in Salesforce by 6.5% in the third quarter. Embree Financial Group now owns 4,478 shares of the CRM provider’s stock worth $1,226,000 after purchasing an additional 272 shares in the last quarter. Finally, AA Financial Advisors LLC grew its stake in Salesforce by 8.0% in the third quarter. AA Financial Advisors LLC now owns 6,265 shares of the CRM provider’s stock worth $1,715,000 after purchasing an additional 466 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. Royal Bank of Canada increased their target price on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. DA Davidson increased their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. JPMorgan Chase & Co. increased their target price on Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Finally, Robert W. Baird increased their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Price Performance

NYSE:CRM opened at $325.49 on Monday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $311.49 billion, a PE ratio of 53.53, a price-to-earnings-growth ratio of 2.66 and a beta of 1.31. The stock’s 50-day moving average price is $336.56 and its 200-day moving average price is $303.11.

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 net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter last year, the business earned $1.62 earnings per share. Salesforce’s revenue was up 8.3% on a year-over-year basis. As a group, equities analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is presently 26.32%.

Insider Activity

In other Salesforce news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. The trade was a 5.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is currently owned by company insiders.

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.