B. Riley Wealth Advisors Inc. Sells 983 Shares of Salesforce, Inc. (NYSE:CRM)

B. Riley Wealth Advisors Inc. cut its holdings in Salesforce, Inc. (NYSE:CRM) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,599 shares of the CRM provider’s stock after selling 983 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Salesforce were worth $7,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of CRM. Legacy Wealth Management LLC MS purchased a new position in Salesforce during the 3rd quarter valued at $210,000. Garden State Investment Advisory Services LLC lifted its holdings in Salesforce by 28.0% in the third quarter. Garden State Investment Advisory Services LLC now owns 3,274 shares of the CRM provider’s stock worth $898,000 after buying an additional 717 shares during the period. Copley Financial Group Inc. bought a new stake in Salesforce during the 3rd quarter valued at approximately $463,000. Oddo BHF Asset Management Sas bought a new position in shares of Salesforce in the 3rd quarter worth approximately $15,894,000. Finally, Inspire Trust Co. N.A. purchased a new position in shares of Salesforce in the 3rd quarter valued at approximately $821,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $354.30 on Friday. The business’s 50-day moving average is $317.48 and its two-hundred day moving average is $275.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $339.07 billion, a P/E ratio of 58.27, a P/E/G ratio of 3.21 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 earnings per share. Analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.45%. Salesforce’s dividend payout ratio is currently 26.32%.

Insiders Place Their Bets

In related news, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 942 shares of Salesforce stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $264.78, for a total value of $249,422.76. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at approximately $31,380,136.92. This trade represents a 0.79 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 138,498 shares of company stock valued at $40,983,349. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

CRM has been the subject of several recent research reports. KeyCorp raised Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price objective for the company in a research report on Friday. Royal Bank of Canada boosted their price target on Salesforce from $300.00 to $420.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. JMP Securities reaffirmed a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Tuesday, December 3rd. Scotiabank boosted their target price on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Finally, Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.24.

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.