Chickasaw Capital Management LLC Sells 60 Shares of Salesforce, Inc. (NYSE:CRM)

Chickasaw Capital Management LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 0.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,235 shares of the CRM provider’s stock after selling 60 shares during the period. Chickasaw Capital Management LLC’s holdings in Salesforce were worth $2,254,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Public Employees Retirement System of Ohio increased its holdings in Salesforce by 0.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 481,107 shares of the CRM provider’s stock valued at $126,598,000 after acquiring an additional 1,892 shares during the last quarter. Cim Investment Management Inc. increased its holdings in shares of Salesforce by 15.5% in the fourth quarter. Cim Investment Management Inc. now owns 2,425 shares of the CRM provider’s stock worth $638,000 after purchasing an additional 326 shares during the last quarter. Security National Bank of SO Dak purchased a new stake in shares of Salesforce in the fourth quarter worth about $234,000. Sanibel Captiva Trust Company Inc. bought a new position in Salesforce during the fourth quarter valued at approximately $31,758,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock valued at $893,336,000 after buying an additional 1,780,421 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. boosted their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Canaccord Genuity Group raised their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. UBS Group increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Finally, Stifel Nicolaus lifted their price target on shares of Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Price Performance

CRM stock traded down $2.07 during mid-day trading on Friday, reaching $288.10. The company’s stock had a trading volume of 3,597,035 shares, compared to its average volume of 6,491,262. The stock has a market cap of $275.42 billion, a PE ratio of 50.10, a P/E/G ratio of 2.61 and a beta of 1.30. The company’s 50 day moving average is $261.93 and its two-hundred day moving average is $264.17. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

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

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,745,045.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now directly owns 828 shares of the company’s stock, valued at approximately $202,702.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the completion of the transaction, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,283,087 in the last 90 days. Company insiders own 3.20% of the company’s stock.

About Salesforce

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.