Dupont Capital Management Corp Sells 1,669 Shares of Salesforce, Inc. (NYSE:CRM)

Dupont Capital Management Corp trimmed its stake in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,178 shares of the CRM provider’s stock after selling 1,669 shares during the quarter. Salesforce makes up 1.5% of Dupont Capital Management Corp’s investment portfolio, making the stock its 17th largest position. Dupont Capital Management Corp’s holdings in Salesforce were worth $16,888,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Union Savings Bank purchased a new position in shares of Salesforce during the second quarter valued at approximately $27,000. BKM Wealth Management LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $34,000. Pacifica Partners Inc. boosted its position in shares of Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 100 shares in the last quarter. AlphaMark Advisors LLC boosted its position in shares of Salesforce by 892.9% during the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock valued at $37,000 after purchasing an additional 125 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $37,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

Shares of Salesforce stock opened at $304.02 on Wednesday. The stock’s 50-day simple moving average is $295.56 and its 200-day simple moving average is $254.02. Salesforce, Inc. has a 52 week low of $187.31 and a 52 week high of $318.71. The company has a market capitalization of $294.90 billion, a price-to-earnings ratio of 72.39, a PEG ratio of 2.32 and a beta of 1.28. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

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

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 11th. Investors of record on Thursday, March 14th will be paid 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 dividend payout ratio is presently 9.52%.

Analyst Ratings Changes

CRM has been the topic of several research reports. Robert W. Baird lifted their price target on Salesforce from $310.00 to $355.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Wells Fargo & Company lifted their price target on Salesforce from $280.00 to $290.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 21st. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $290.00 to $350.00 in a research report on Thursday, December 21st. Mizuho reissued a “buy” rating and issued a $345.00 target price (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Finally, UBS Group boosted their target price on Salesforce from $285.00 to $310.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Nine analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $304.32.

Check Out Our Latest Analysis on CRM

Insider Buying and Selling

In related news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Salesforce news, COO Brian Millham sold 24,453 shares of the firm’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $251.61, for a total transaction of $3,774,150.00. Following the transaction, the chief executive officer now directly owns 13,896,166 shares in the company, valued at approximately $3,496,414,327.26. The disclosure for this sale can be found here. Insiders have sold 913,175 shares of company stock valued at $261,391,996 in the last 90 days. Company insiders own 3.70% of the company’s stock.

Salesforce Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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