Salesforce, Inc. (NYSE:CRM) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 49.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,763 shares of the CRM provider’s stock after selling 3,707 shares during the period. Wrapmanager Inc.’s holdings in Salesforce were worth $1,030,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Piscataqua Savings Bank raised its position in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC increased its stake in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth about $33,000. Finally, Stephens Consulting LLC grew its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America increased their price objective on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein raised their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Evercore ISI reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Scotiabank initiated coverage on Salesforce in a research note on Monday. They set a “sector outperform” rating and a $425.00 price target for the company. Finally, Wedbush increased their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $325.36.

Salesforce Stock Down 0.9 %

Salesforce stock opened at $322.25 on Tuesday. The firm has a market capitalization of $308.07 billion, a P/E ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29. The company has a 50-day simple moving average of $288.14 and a 200-day simple moving average of $266.96. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. As a group, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce’s payout ratio is 27.83%.

Insider Activity

In other news, insider Parker Harris sold 3,970 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,173 shares of company stock valued at $40,146,206. 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.