Salesforce, Inc. (NYSE:CRM) Shares Sold by Cumberland Partners Ltd

Cumberland Partners Ltd reduced its stake in Salesforce, Inc. (NYSE:CRM) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,100 shares of the CRM provider’s stock after selling 3,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Salesforce were worth $3,711,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Private Wealth Partners LLC lifted its holdings in Salesforce by 8.3% in the 4th quarter. Private Wealth Partners LLC now owns 15,941 shares of the CRM provider’s stock valued at $5,330,000 after purchasing an additional 1,223 shares in the last quarter. Financial Perspectives Inc lifted its stake in shares of Salesforce by 46.6% during the fourth quarter. Financial Perspectives Inc now owns 327 shares of the CRM provider’s stock valued at $109,000 after buying an additional 104 shares during the period. Vista Capital Partners Inc. acquired a new stake in Salesforce during the fourth quarter worth approximately $261,000. Pegasus Asset Management Inc. grew its stake in Salesforce by 0.7% in the 4th quarter. Pegasus Asset Management Inc. now owns 16,164 shares of the CRM provider’s stock worth $5,404,000 after acquiring an additional 109 shares during the period. Finally, Laidlaw Wealth Management LLC raised its holdings in Salesforce by 91.3% in the 4th quarter. Laidlaw Wealth Management LLC now owns 4,403 shares of the CRM provider’s stock valued at $1,472,000 after acquiring an additional 2,101 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Barclays lifted their price objective on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research report on Wednesday, December 4th. Royal Bank of Canada lifted their price target on Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Jefferies Financial Group increased their price objective on shares of Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Robert W. Baird boosted their target price on shares of Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $376.84.

Salesforce Stock Performance

CRM stock opened at $324.19 on Thursday. The company has a 50-day simple moving average of $335.02 and a 200 day simple moving average of $304.66. The company has a market capitalization of $310.25 billion, a P/E ratio of 53.32, a PEG ratio of 2.62 and a beta of 1.31. 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 fifty-two week low of $212.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share 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 analyst estimates of $9.35 billion. During the same period in the prior year, the company posted $1.62 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $2,041,607.78. Following the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at approximately $15,342,415. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,117,641 shares of company stock valued at $386,408,308. Corporate insiders own 3.20% of the company’s stock.

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.