Salesforce, Inc. (NYSE:CRM) Position Decreased by Boston Family Office LLC

Boston Family Office LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 0.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,310 shares of the CRM provider’s stock after selling 334 shares during the period. Salesforce accounts for approximately 2.1% of Boston Family Office LLC’s holdings, making the stock its 7th largest position. Boston Family Office LLC’s holdings in Salesforce were worth $30,528,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CRM. Nvest Financial LLC lifted its holdings in shares of Salesforce by 1.1% during the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock valued at $938,000 after purchasing an additional 31 shares during the last quarter. OMC Financial Services LTD raised its stake in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after acquiring an additional 31 shares in the last quarter. Sachetta LLC grew its stake in shares of Salesforce by 0.3% during the fourth quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after acquiring an additional 32 shares during the last quarter. Finally, Prossimo Advisors LLC increased its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Wells Fargo & Company reduced their target price on Salesforce from $345.00 to $310.00 and set an “equal weight” rating for the company in a research note on Thursday, February 27th. Oppenheimer dropped their price target on Salesforce from $415.00 to $380.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Finally, Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-one have assigned a buy rating and five have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $361.42.

Salesforce Trading Down 0.7 %

Shares of CRM stock opened at $268.05 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $308.26 and its two-hundred day moving average is $311.67. The firm has a market capitalization of $257.60 billion, a P/E ratio of 44.09, a PEG ratio of 2.58 and a beta of 1.35.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 24th. Investors of record on Thursday, April 10th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, April 10th. This is a positive change from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.63%. Salesforce’s payout ratio is presently 26.10%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 436 shares of the stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at approximately $2,344,899.96. This trade represents a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This trade represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,660 shares of company stock valued at $14,095,336. Corporate insiders own 3.20% of the company’s stock.

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.