Salesforce, Inc. (NYSE:CRM) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lowered its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 11.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,437 shares of the CRM provider's stock after selling 3,162 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Salesforce were worth $8,180,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after buying an additional 175,035 shares during the period. Fisher Asset Management LLC increased its stake in Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock valued at $4,163,703,000 after buying an additional 177,321 shares during the period. Northern Trust Corp increased its stake in shares of Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Norges Bank acquired a new position in Salesforce in the fourth quarter worth approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 1,256 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the sale, the chief accounting officer now owns 12,826 shares of the company's stock, valued at $3,248,954.06. This trade represents a 8.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 46,553 shares of company stock valued at $12,897,323 in the last ninety days. Insiders own 3.20% of the company's stock.

Salesforce Stock Down 5.1%

Shares of Salesforce stock traded down $14.11 during trading on Thursday, hitting $261.92. 18,755,564 shares of the stock traded hands, compared to its average volume of 6,998,334. The stock's fifty day simple moving average is $268.16 and its 200 day simple moving average is $305.79. 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 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market cap of $251.81 billion, a P/E ratio of 42.93, a price-to-earnings-growth ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the business posted $2.44 earnings per share. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, April 10th. This is an increase from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio is currently 26.10%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Redburn Atlantic initiated coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating on the stock. Loop Capital lowered their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating on the stock in a report on Thursday, February 27th. Macquarie reaffirmed a "neutral" rating and set a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Stifel Nicolaus lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, thirty have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus target price of $342.38.

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.