Salesforce, Inc. (NYSE:CRM) Shares Sold by Oxler Private Wealth LLC

Oxler Private Wealth LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 46.8% during the 4th quarter, Holdings Channel reports. The fund owned 2,957 shares of the CRM provider’s stock after selling 2,600 shares during the quarter. Salesforce makes up 0.6% of Oxler Private Wealth LLC’s portfolio, making the stock its 29th biggest holding. Oxler Private Wealth LLC’s holdings in Salesforce were worth $778,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $31,000. Pacifica Partners Inc. raised its holdings in Salesforce by 333.3% during the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter worth approximately $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $269.53, for a total value of $4,042,950.00. Following the completion of the transaction, the chief executive officer now owns 12,707,327 shares of the company’s stock, valued at approximately $3,425,005,846.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 quarter, insiders sold 640,499 shares of company stock valued at $186,305,734. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of NYSE CRM traded up $0.06 during trading on Wednesday, hitting $283.82. 3,304,198 shares of the company were exchanged, compared to its average volume of 5,311,433. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The firm’s fifty day moving average price is $288.30 and its 200 day moving average price is $273.61. The company has a market cap of $274.74 billion, a price-to-earnings ratio of 68.04, a PEG ratio of 2.21 and a beta of 1.30.

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

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of research analyst reports. Oppenheimer raised their price objective on shares of Salesforce from $300.00 to $325.00 and gave the stock an “outperform” rating in a report on Monday, February 12th. Wolfe Research reissued an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. Citigroup raised their price objective on shares of Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a report on Monday, February 26th. Evercore ISI raised their price objective on shares of Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Finally, StockNews.com cut shares of Salesforce from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 19th. Nine research 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $310.61.

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.