Kapstone Financial Advisors LLC Sells 124 Shares of Salesforce, Inc. (NYSE:CRM)

Kapstone Financial Advisors LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,408 shares of the CRM provider’s stock after selling 124 shares during the quarter. Kapstone Financial Advisors LLC’s holdings in Salesforce were worth $852,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter worth about $27,000. Arlington Trust Co LLC boosted its stake in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after acquiring an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new stake in shares of Salesforce during the 4th quarter worth about $30,000. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Finally, Collier Financial bought a new stake in shares of Salesforce during the 4th quarter worth about $32,000. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Oppenheimer cut their price objective on Salesforce from $415.00 to $380.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Robert W. Baird cut their price objective on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Loop Capital cut their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $365.32.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 317,105 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares in the company, valued at approximately $4,217,696,838.46. This trade represents a 2.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,102,572 shares of company stock worth $381,283,706. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.8 %

NYSE:CRM opened at $292.60 on Tuesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $280.02 billion, a P/E ratio of 48.13, a P/E/G ratio of 2.58 and a beta of 1.31. The stock’s fifty day simple moving average is $328.10 and its 200-day simple moving average is $308.16.

Salesforce (NYSE:CRM) last posted 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). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.62 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued 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 0.55%. Salesforce’s dividend payout ratio is presently 25.16%.

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.