Geneva Partners LLC Sells 150 Shares of Salesforce, Inc. (NYSE:CRM)

Geneva Partners LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 3.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,080 shares of the CRM provider’s stock after selling 150 shares during the period. Geneva Partners LLC’s holdings in Salesforce were worth $1,074,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Graypoint LLC grew its position in shares of Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after buying an additional 36 shares during the last quarter. Opes Wealth Management LLC increased its position in Salesforce by 2.9% during the 4th quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after purchasing an additional 37 shares during the period. Prentice Wealth Management LLC raised its holdings in Salesforce by 1.7% in the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of Salesforce by 3.9% in the 4th quarter. MV Capital Management Inc. now owns 1,045 shares of the CRM provider’s stock worth $275,000 after purchasing an additional 39 shares during the period. Finally, Legal Advantage Investments Inc. boosted its stake in shares of Salesforce by 0.7% during the 4th quarter. Legal Advantage Investments Inc. now owns 5,571 shares of the CRM provider’s stock valued at $1,466,000 after purchasing an additional 40 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM traded down $1.47 during trading on Friday, reaching $270.45. 4,906,818 shares of the company traded hands, compared to its average volume of 5,698,991. The company has a market cap of $262.34 billion, a P/E ratio of 64.39, a PEG ratio of 2.13 and a beta of 1.28. The firm has a fifty day simple moving average of $297.28 and a 200 day simple moving average of $261.43. Salesforce, Inc. has a 12-month low of $190.57 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.09 and a current ratio of 1.09.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The business’s revenue was up 10.8% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Analyst Upgrades and Downgrades

CRM has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a report on Monday. Royal Bank of Canada restated an “outperform” rating and set a $350.00 price target (up from $325.00) on shares of Salesforce in a research report on Friday, April 12th. BMO Capital Markets increased their price objective on Salesforce from $325.00 to $335.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Monday. Finally, Oppenheimer upped their target price on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $307.87.

Insider Transactions at Salesforce

In other Salesforce news, insider R David Schmaier sold 3,910 shares of the business’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the transaction, the insider now owns 19,463 shares in the company, valued at $5,347,848.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Salesforce news, insider R David Schmaier sold 3,910 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total transaction of $1,074,350.70. Following the completion of the transaction, the insider now owns 19,463 shares in the company, valued at $5,347,848.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $276.83, for a total value of $4,152,450.00. Following the completion of the sale, the chief executive officer now owns 12,857,327 shares in the company, valued at $3,559,293,833.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 628,184 shares of company stock worth $184,794,698. 3.70% 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.