Harbor Capital Advisors Inc. Sells 797 Shares of Salesforce, Inc. (NYSE:CRM)

Harbor Capital Advisors Inc. trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,492 shares of the CRM provider’s stock after selling 797 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Salesforce were worth $4,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of CRM. Aviance Capital Partners LLC lifted its position in Salesforce by 0.5% during the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock worth $1,860,000 after acquiring an additional 33 shares during the period. EWA LLC increased its holdings in shares of Salesforce by 1.7% in the third quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after purchasing an additional 33 shares during the period. Umpqua Bank raised its stake in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the last quarter. Principal Street Partners LLC boosted its position in Salesforce by 1.0% in the third quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider’s stock valued at $891,000 after buying an additional 34 shares during the last quarter. Finally, Nvwm LLC increased its holdings in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after buying an additional 36 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. This represents a 3.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,181,817 shares of company stock worth $404,760,429. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 2.8 %

CRM stock opened at $317.83 on Friday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The firm has a market cap of $304.16 billion, a PE ratio of 52.27, a PEG ratio of 3.21 and a beta of 1.30. The firm’s 50 day moving average price is $335.82 and its 200-day moving average price is $289.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $1.62 EPS. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Truist Financial restated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Needham & Company LLC upped their price target on shares of Salesforce from $375.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. The Goldman Sachs Group raised their target price on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Guggenheim downgraded Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price target for the company. in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $376.05.

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.