Salesforce, Inc. (NYSE:CRM) Stake Lessened by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 14.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,052 shares of the CRM provider’s stock after selling 341 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Salesforce were worth $686,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in CRM. Transcendent Capital Group LLC increased its holdings in Salesforce by 525.9% in the fourth quarter. Transcendent Capital Group LLC now owns 1,496 shares of the CRM provider’s stock valued at $500,000 after buying an additional 1,257 shares during the last quarter. Trifecta Capital Advisors LLC grew its position in shares of Salesforce by 3.3% in the 4th quarter. Trifecta Capital Advisors LLC now owns 24,071 shares of the CRM provider’s stock worth $8,048,000 after acquiring an additional 771 shares in the last quarter. Millington Financial Advisors LLC increased its holdings in shares of Salesforce by 16.3% in the 4th quarter. Millington Financial Advisors LLC now owns 5,618 shares of the CRM provider’s stock valued at $1,906,000 after acquiring an additional 789 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in Salesforce by 0.5% during the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after purchasing an additional 35 shares during the last quarter. Finally, Prasad Wealth Partners LLC acquired a new position in Salesforce in the fourth quarter worth $344,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on CRM shares. Scotiabank increased their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. DA Davidson lifted their target price on Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays raised their price target on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, JPMorgan Chase & Co. upped their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.53.

Insider Activity

In other Salesforce news, insider Miguel Milano sold 458 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $307.97, for a total value of $141,050.26. Following the completion of the sale, the insider now owns 5,864 shares in the company, valued at $1,805,936.08. This represents a 7.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,102,572 shares of company stock worth $381,283,706 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $308.27 on Tuesday. 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 company has a market cap of $295.01 billion, a P/E ratio of 50.70, a price-to-earnings-growth ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The firm’s 50 day simple moving average is $332.36 and its 200-day simple moving average is $306.60.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Salesforce Company 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.