Salesforce, Inc. (NYSE:CRM) Stock Holdings Lowered by Evergreen Capital Management LLC

Evergreen Capital Management LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 8.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,900 shares of the CRM provider’s stock after selling 2,171 shares during the period. Evergreen Capital Management LLC’s holdings in Salesforce were worth $6,145,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of CRM. Gilbert & Cook Inc. grew its position in shares of Salesforce by 6.9% during the fourth quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock worth $1,489,000 after acquiring an additional 366 shares during the last quarter. Aveo Capital Partners LLC lifted its holdings in Salesforce by 44.7% in the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock worth $422,000 after purchasing an additional 496 shares during the period. 9258 Wealth Management LLC lifted its holdings in Salesforce by 24.0% in the fourth quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after purchasing an additional 1,253 shares during the period. Gryphon Financial Partners LLC lifted its holdings in Salesforce by 32.4% in the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after purchasing an additional 970 shares during the period. Finally, TrinityPoint Wealth LLC lifted its holdings in Salesforce by 1.7% in the fourth quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock worth $2,115,000 after purchasing an additional 133 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Parker Harris sold 5,600 shares of the stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at $29,193,087.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Parker Harris sold 5,600 shares of Salesforce stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total value of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 5,735 shares of Salesforce stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $266.22, for a total transaction of $1,526,771.70. Following the completion of the transaction, the chief operating officer now directly owns 1,663 shares in the company, valued at approximately $442,723.86. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,633 shares of company stock worth $18,100,349. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $315.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Mizuho reduced their price objective on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Bank of America reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a report on Friday, September 6th. Sanford C. Bernstein upped their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Loop Capital reissued a “hold” rating and issued a $270.00 price target on shares of Salesforce in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $306.00.

Salesforce Price Performance

Shares of CRM opened at $264.21 on Tuesday. The company has a market capitalization of $256.02 billion, a price-to-earnings ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business’s 50-day moving average is $254.37 and its 200-day moving average is $265.91.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio is currently 28.78%.

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.