Salesforce, Inc. (NYSE:CRM) Shares Sold by Birch Hill Investment Advisors LLC

Birch Hill Investment Advisors LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,334 shares of the CRM provider’s stock after selling 917 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Salesforce were worth $3,455,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at about $27,000. Godsey & Gibb Inc. grew 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 purchasing an additional 90 shares during the last quarter. Annapolis Financial Services LLC raised its position in shares of Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. FSA Wealth Management LLC acquired a new position in shares of Salesforce in the third quarter worth $53,000. Finally, Friedenthal Financial purchased a new position in Salesforce in the 4th quarter valued at about $55,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Down 1.5 %

Salesforce stock opened at $325.81 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The stock has a market cap of $311.80 billion, a price-to-earnings ratio of 53.59, a PEG ratio of 2.66 and a beta of 1.31. The company’s 50-day moving average price is $338.97 and its two-hundred day moving average price is $300.36. 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 announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 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 analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.62 earnings per share. On average, analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Analysts Set New Price Targets

CRM has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and set a $425.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on shares of Salesforce from $340.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a report on Wednesday, December 18th. Finally, Loop Capital boosted their price target on Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Brian Millham sold 14,808 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock valued at $384,366,700 in the last three months. 3.20% of the stock is currently owned by company insiders.

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.