Salesforce, Inc. (NYSE:CRM) Shares Sold by Guinness Atkinson Asset Management Inc

Guinness Atkinson Asset Management Inc lowered its stake in Salesforce, Inc. (NYSE:CRM) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,619 shares of the CRM provider’s stock after selling 5,973 shares during the period. Salesforce accounts for 3.5% of Guinness Atkinson Asset Management Inc’s holdings, making the stock its 12th biggest position. Guinness Atkinson Asset Management Inc’s holdings in Salesforce were worth $6,894,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CRM. MassMutual Private Wealth & Trust FSB raised its stake in Salesforce by 9.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 30,919 shares of the CRM provider’s stock worth $10,337,000 after acquiring an additional 2,777 shares during the last quarter. DLK Investment Management LLC increased its holdings in shares of Salesforce by 6.3% in the fourth quarter. DLK Investment Management LLC now owns 1,065 shares of the CRM provider’s stock valued at $356,000 after purchasing an additional 63 shares during the period. BigSur Wealth Management LLC raised its stake in shares of Salesforce by 0.5% in the fourth quarter. BigSur Wealth Management LLC now owns 10,000 shares of the CRM provider’s stock worth $3,347,000 after purchasing an additional 50 shares during the last quarter. Consolidated Capital Management LLC lifted its holdings in shares of Salesforce by 15.8% during the fourth quarter. Consolidated Capital Management LLC now owns 1,513 shares of the CRM provider’s stock worth $506,000 after purchasing an additional 206 shares during the period. Finally, Trueblood Wealth Management LLC boosted its position in Salesforce by 13.4% in the fourth quarter. Trueblood Wealth Management LLC now owns 2,695 shares of the CRM provider’s stock valued at $901,000 after buying an additional 319 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

CRM opened at $324.77 on Monday. The firm has a market capitalization of $310.81 billion, a PE ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. 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, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm’s 50-day moving average price is $337.31 and its 200 day moving average price is $291.80.

Salesforce (NYSE:CRM) last issued its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Insider Transactions at Salesforce

In other Salesforce news, COO Brian Millham sold 6,161 shares of the firm’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total value of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares of the company’s stock, valued at $280,767.75. This trade represents a 86.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $329.88, for a total transaction of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at approximately $15,128,626.68. This trade represents a 11.94 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,183,838 shares of company stock worth $405,595,158 in the last quarter. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CRM. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. BMO Capital Markets boosted their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Bank of America upped their price target on shares of Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Needham & Company LLC upped their target price on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $377.63.

About Salesforce

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.