Trivant Custom Portfolio Group LLC Sells 103 Shares of Salesforce, Inc. (NYSE:CRM)

Trivant Custom Portfolio Group LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.7% in the fourth quarter, HoldingsChannel reports. The fund owned 5,981 shares of the CRM provider’s stock after selling 103 shares during the period. Salesforce accounts for approximately 1.2% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 29th largest holding. Trivant Custom Portfolio Group LLC’s holdings in Salesforce were worth $2,000,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter worth about $27,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the second quarter worth approximately $33,000. Godsey & Gibb Inc. raised its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares during the period. Finally, FSA Wealth Management LLC acquired a new stake in Salesforce during the third quarter worth approximately $53,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, Director G Mason Morfit sold 722,300 shares of the firm’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 completion of the sale, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total value of $2,052,183.48. Following the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,183,838 shares of company stock worth $405,595,158 over the last three months. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on CRM shares. TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price objective for the company from $380.00 to $400.00 in a report on Friday. Loop Capital upped their price objective on shares of Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Guggenheim lowered shares of Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target on the stock. in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

Salesforce Trading Up 1.5 %

NYSE CRM opened at $324.77 on Friday. The stock’s 50 day moving average is $337.25 and its 200 day moving average is $291.08. The firm has a market capitalization of $310.81 billion, a PE ratio of 53.42, a P/E/G ratio of 2.87 and a beta of 1.30. 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 twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the business posted $1.62 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. Research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business 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. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

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.