Salesforce, Inc. (NYSE:CRM) Shares Sold by Northstar Advisory Group LLC

Northstar Advisory Group LLC reduced its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 57.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,276 shares of the CRM provider's stock after selling 5,749 shares during the quarter. Northstar Advisory Group LLC's holdings in Salesforce were worth $1,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new position in Salesforce in the fourth quarter valued at about $1,420,381,000. Moneta Group Investment Advisors LLC grew its stake in shares of Salesforce by 125,717.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider's stock worth $1,360,428,000 after acquiring an additional 10,252,257 shares during the last quarter. Starboard Value LP purchased a new stake in shares of Salesforce during the fourth quarter worth about $401,215,000. Ontario Teachers Pension Plan Board purchased a new stake in shares of Salesforce during the second quarter worth about $352,498,000. Finally, Barclays PLC grew its stake in shares of Salesforce by 99.7% during the second quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider's stock worth $675,370,000 after acquiring an additional 1,595,733 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 12,249 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the completion of the transaction, the chief financial officer now directly owns 37,979 shares in the company, valued at approximately $10,062,156.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Amy E. Weaver sold 12,249 shares of the stock in a transaction on Friday, December 29th. The stock was sold at an average price of $264.94, for a total transaction of $3,245,250.06. Following the completion of the transaction, the chief financial officer now directly owns 37,979 shares in the company, valued at approximately $10,062,156.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 2,536 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $260.54, for a total value of $660,729.44. Following the transaction, the chief financial officer now owns 37,979 shares of the company's stock, valued at $9,895,048.66. The disclosure for this sale can be found here. Insiders sold a total of 913,507 shares of company stock worth $259,814,813 in the last three months. 3.70% of the stock is owned by corporate insiders.

Salesforce Price Performance

Shares of CRM stock traded down $0.20 during trading hours on Thursday, hitting $301.18. 4,876,082 shares of the company's stock were exchanged, compared to its average volume of 5,764,980. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14. The firm has a market cap of $292.14 billion, a P/E ratio of 71.75, a P/E/G ratio of 2.35 and a beta of 1.28. The firm has a 50 day moving average of $294.19 and a two-hundred day moving average of $252.10. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company earned $1.01 EPS. The firm's revenue was up 10.8% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce's payout ratio is currently 9.52%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. UBS Group boosted their price target on Salesforce from $285.00 to $310.00 and gave the stock a "neutral" rating in a research note on Friday, February 16th. Raymond James boosted their price target on Salesforce from $280.00 to $300.00 and gave the stock a "strong-buy" rating in a research note on Thursday, November 30th. Truist Financial reiterated a "buy" rating and issued a $360.00 target price (up previously from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. Piper Sandler reiterated a "neutral" rating and issued a $285.00 target price on shares of Salesforce in a research report on Wednesday, February 28th. Finally, Needham & Company LLC upped their target price on Salesforce from $275.00 to $345.00 and gave the company a "buy" rating in a research report on Thursday, February 29th. Nine investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $304.32.

Salesforce Company 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.