Chicago Partners Investment Group LLC Reduces Stock Position in Salesforce, Inc. (NYSE:CRM)

Chicago Partners Investment Group LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 4.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,882 shares of the CRM provider’s stock after selling 352 shares during the quarter. Chicago Partners Investment Group LLC’s holdings in Salesforce were worth $1,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CRM. Capital Research Global Investors increased its holdings in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Salesforce in the 1st quarter valued at approximately $910,220,000. Swedbank AB bought a new stake in shares of Salesforce in the 1st quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. Finally, AMF Tjanstepension AB increased its holdings in shares of Salesforce by 376.1% in the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after acquiring an additional 1,139,472 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Loop Capital restated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Bank of America restated a “buy” rating and set a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. DA Davidson boosted their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 owns 7,006 shares in the company, 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 ninety days, insiders have sold 148,303 shares of company stock valued at $42,024,385. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.1 %

NYSE:CRM opened at $294.72 on Friday. The firm has a market capitalization of $281.75 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 2.68 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $204.69 and a 1-year 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. The business’s fifty day moving average price is $273.02 and its 200 day moving average price is $263.27.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.63 earnings per share. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

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.