Mutual of America Capital Management LLC Sells 4,795 Shares of Salesforce, Inc. (NYSE:CRM)

Mutual of America Capital Management LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,511 shares of the CRM provider’s stock after selling 4,795 shares during the quarter. Salesforce makes up approximately 0.4% of Mutual of America Capital Management LLC’s portfolio, making the stock its 25th largest holding. Mutual of America Capital Management LLC’s holdings in Salesforce were worth $38,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. JFS Wealth Advisors LLC grew its stake in shares of Salesforce by 27.4% in the third quarter. JFS Wealth Advisors LLC now owns 512 shares of the CRM provider’s stock worth $140,000 after acquiring an additional 110 shares during the last quarter. Financial Advocates Investment Management grew its stake in shares of Salesforce by 1.4% in the third quarter. Financial Advocates Investment Management now owns 8,968 shares of the CRM provider’s stock worth $2,455,000 after acquiring an additional 120 shares during the last quarter. HM Payson & Co. grew its stake in shares of Salesforce by 1.9% in the third quarter. HM Payson & Co. now owns 4,112 shares of the CRM provider’s stock worth $1,125,000 after acquiring an additional 76 shares during the last quarter. Baron Silver Stevens Financial Advisors LLC grew its stake in shares of Salesforce by 12.6% in the third quarter. Baron Silver Stevens Financial Advisors LLC now owns 891 shares of the CRM provider’s stock worth $244,000 after acquiring an additional 100 shares during the last quarter. Finally, Reston Wealth Management LLC acquired a new stake in shares of Salesforce in the third quarter worth $78,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $297.63 on Friday. The firm has a market capitalization of $284.83 billion, a P/E ratio of 48.95, a PEG ratio of 2.58 and a beta of 1.31. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The business has a 50-day moving average of $329.11 and a 200-day moving average of $307.21. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 earnings per share. On average, equities analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. Salesforce’s dividend payout ratio is presently 26.32%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $343.00, for a total value of $2,133,803.00. Following the completion of the transaction, the chief financial officer now directly owns 53,861 shares in the company, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Morgan Stanley raised their price objective on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. UBS Group lifted their price target on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Needham & Company LLC reiterated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Thursday. Finally, Scotiabank decreased their price target on shares of Salesforce from $440.00 to $400.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $365.32.

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.