Salesforce, Inc. (NYSE:CRM) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,278 shares of the CRM provider’s stock after selling 302 shares during the period. Cornerstone Wealth Management LLC’s holdings in Salesforce were worth $1,171,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of CRM. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.1 %

NYSE:CRM opened at $291.12 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock’s 50-day moving average is $265.84 and its two-hundred day moving average is $263.84. The stock has a market cap of $282.10 billion, a PE ratio of 52.36, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its 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 company had revenue of $9.33 billion for 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 business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is 28.78%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on CRM. Wedbush upped their price target on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. TD Cowen upped their price objective 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. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Finally, Loop Capital reissued a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Insider Activity

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Salesforce news, COO Brian Millham sold 2,037 shares of Salesforce stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $248.75, for a total value of $506,703.75. Following the transaction, the chief operating officer now directly owns 1,947 shares of the company’s stock, valued at $484,316.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock worth $21,429,961 in the last three months. 3.20% of the stock is owned by insiders.

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.