Salesforce, Inc. (NYSE:CRM) Shares Sold by Centaurus Financial Inc.

Centaurus Financial Inc. reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 10.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,576 shares of the CRM provider's stock after selling 1,382 shares during the quarter. Centaurus Financial Inc.'s holdings in Salesforce were worth $3,870,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC boosted its holdings in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce during the 4th quarter worth $31,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRM. Piper Sandler upped their target price on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday. Loop Capital decreased their price objective on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Royal Bank of Canada lowered shares of Salesforce from an "outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $420.00 to $275.00 in a research note on Thursday. Stephens cut their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday. Finally, Cantor Fitzgerald assumed coverage on shares of Salesforce in a report on Wednesday, April 23rd. They issued an "overweight" rating and a $210.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-nine 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 currently has an average rating of "Moderate Buy" and an average target price of $342.21.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 705 shares of the firm's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares of the company's stock, valued at $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 46,553 shares of company stock valued at $12,897,323. 3.20% of the stock is owned by insiders.

Salesforce Stock Performance

Shares of NYSE CRM traded down $1.89 during mid-day trading on Friday, hitting $265.03. The stock had a trading volume of 12,371,920 shares, compared to its average volume of 7,029,733. The firm has a market cap of $254.80 billion, a PE ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.42. 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 company has a 50 day moving average of $267.78 and a two-hundred day moving average of $305.28. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio is 25.98%.

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.