FourThought Financial Partners LLC Has $6.67 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

FourThought Financial Partners LLC lessened its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 10.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,364 shares of the CRM provider's stock after selling 2,990 shares during the quarter. FourThought Financial Partners LLC's holdings in Salesforce were worth $6,674,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CRM. TCG Advisory Services LLC lifted its stake in shares of Salesforce by 1,442.3% in the fourth quarter. TCG Advisory Services LLC now owns 70,577 shares of the CRM provider's stock worth $18,572,000 after acquiring an additional 66,001 shares in the last quarter. Charles Carroll Financial Partners LLC increased its holdings in Salesforce by 102.7% during the 4th quarter. Charles Carroll Financial Partners LLC now owns 7,600 shares of the CRM provider's stock worth $2,000,000 after purchasing an additional 3,850 shares during the last quarter. AJOVista LLC acquired a new position in shares of Salesforce in the 4th quarter valued at approximately $204,000. Baxter Bros Inc. boosted its stake in shares of Salesforce by 7.0% during the 4th quarter. Baxter Bros Inc. now owns 2,029 shares of the CRM provider's stock valued at $534,000 after buying an additional 133 shares during the last quarter. Finally, Provence Wealth Management Group grew its position in shares of Salesforce by 15.0% during the fourth quarter. Provence Wealth Management Group now owns 2,403 shares of the CRM provider's stock worth $632,000 after buying an additional 313 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on CRM. Wedbush increased their price objective on shares of Salesforce from $280.00 to $325.00 and gave the company a "buy" rating in a research note on Thursday, February 29th. StockNews.com downgraded Salesforce from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 19th. KeyCorp initiated coverage on Salesforce in a report on Thursday, March 21st. They issued a "sector weight" rating for the company. Evercore ISI lifted their target price on Salesforce from $290.00 to $330.00 and gave the stock an "outperform" rating in a research report on Thursday, February 29th. Finally, Wolfe Research reissued an "outperform" rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $310.61.

Salesforce Price Performance

Shares of Salesforce stock traded up $1.53 on Friday, hitting $273.66. The company had a trading volume of 4,041,636 shares, compared to its average volume of 5,219,539. Salesforce, Inc. has a 52 week low of $190.76 and a 52 week high of $318.71. The company has a market cap of $264.90 billion, a PE ratio of 65.16, a PEG ratio of 2.09 and a beta of 1.30. The business has a 50-day simple moving average of $294.23 and a 200-day simple moving average of $266.17. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. Salesforce's dividend payout ratio is currently 9.52%.

Insider Activity

In other news, CFO Amy E. Weaver sold 942 shares of the business's stock in a transaction on Monday, March 25th. The stock was sold at an average price of $305.46, for a total transaction of $287,743.32. Following the sale, the chief financial officer now directly owns 39,416 shares of the company's stock, valued at $12,040,011.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Amy E. Weaver sold 942 shares of Salesforce stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $305.46, for a total value of $287,743.32. Following the transaction, the chief financial officer now directly owns 39,416 shares of the company's stock, valued at $12,040,011.36. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total transaction of $4,042,950.00. Following the completion of the sale, the chief executive officer now owns 12,707,327 shares of the company's stock, valued at approximately $3,425,005,846.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 629,993 shares of company stock worth $184,255,474. Insiders own 3.70% of the company's stock.

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.