Salesforce, Inc. (NYSE:CRM) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC cut its holdings in Salesforce, Inc. (NYSE:CRM) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,399 shares of the CRM provider’s stock after selling 1,933 shares during the period. Private Advisor Group LLC’s holdings in Salesforce were worth $19,543,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. XN LP lifted its stake in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares during the last quarter. Atomi Financial Group Inc. lifted its position in Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after buying an additional 2,589 shares during the last quarter. M&G Plc purchased a new position in Salesforce during the first quarter worth about $2,178,000. First Foundation Advisors increased its position in shares of Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares during the last quarter. Finally, Tobam raised its stake in shares of Salesforce by 7.3% in the 1st quarter. Tobam now owns 1,769 shares of the CRM provider’s stock valued at $533,000 after acquiring an additional 120 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $30,251,239.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total value of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,251,239.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 86,812 shares of company stock worth $23,418,916. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.4 %

NYSE:CRM opened at $284.37 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock’s 50 day moving average price is $268.70 and its 200 day moving average price is $263.24. The company has a market capitalization of $275.55 billion, a PE ratio of 51.15, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CRM shares. Citigroup lifted their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Wells Fargo & Company boosted their price objective on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley raised their price objective on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $311.66.

Salesforce Company 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.