Salesforce, Inc. (NYSE:CRM) Shares Sold by Cable Hill Partners LLC

Cable Hill Partners LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.4% during the third quarter, Holdings Channel.com reports. The fund owned 10,366 shares of the CRM provider’s stock after selling 38 shares during the quarter. Salesforce accounts for approximately 0.3% of Cable Hill Partners LLC’s investment portfolio, making the stock its 26th largest position. Cable Hill Partners LLC’s holdings in Salesforce were worth $2,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Umpqua Bank lifted its holdings in Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares during the last quarter. Nvwm LLC increased its stake in Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares during the period. Prentice Wealth Management LLC raised its holdings in Salesforce by 1.5% in the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 37 shares in the last quarter. Private Wealth Management Group LLC lifted its position in shares of Salesforce by 11.6% during the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after acquiring an additional 37 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. TD Cowen increased their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Wells Fargo & Company increased their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Finally, Robert W. Baird increased their price target on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $318.23.

Insiders Place Their Bets

In other Salesforce news, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the transaction, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,373 shares of company stock worth $41,250,680. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.2 %

NYSE CRM opened at $341.72 on Thursday. 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 stock has a 50-day moving average of $281.40 and a 200-day moving average of $265.31. The firm has a market cap of $326.68 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company 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. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is presently 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.