Salesforce, Inc. (NYSE:CRM) Shares Sold by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,393 shares of the CRM provider’s stock after selling 43 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Salesforce were worth $655,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. EP Wealth Advisors LLC raised its holdings in Salesforce by 20.8% in the 1st quarter. EP Wealth Advisors LLC now owns 26,451 shares of the CRM provider’s stock valued at $7,967,000 after buying an additional 4,553 shares during the period. Axxcess Wealth Management LLC grew its position in Salesforce by 21.4% in the 1st quarter. Axxcess Wealth Management LLC now owns 13,954 shares of the CRM provider’s stock valued at $4,203,000 after acquiring an additional 2,461 shares in the last quarter. Advisors Asset Management Inc. increased its stake in Salesforce by 25.8% during the first quarter. Advisors Asset Management Inc. now owns 16,227 shares of the CRM provider’s stock worth $4,887,000 after purchasing an additional 3,327 shares during the period. Cadence Bank purchased a new stake in Salesforce during the 1st quarter worth approximately $202,000. Finally, JT Stratford LLC lifted its holdings in Salesforce by 54.9% during the 1st quarter. JT Stratford LLC now owns 2,641 shares of the CRM provider’s stock worth $795,000 after buying an additional 936 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE:CRM opened at $325.70 on Thursday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm’s fifty day moving average price is $291.21 and its 200 day moving average price is $267.72. The firm has a market cap of $311.37 billion, a price-to-earnings ratio of 56.64, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 yield of 0.49%. Salesforce’s payout ratio is currently 27.83%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Raymond James increased their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Scotiabank began coverage on shares of Salesforce in a research note on Monday. They set a “sector outperform” rating and a $425.00 target price on the stock. TD Cowen lifted their price target on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. BMO Capital Markets increased their price objective on shares of Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a research report on Friday, November 15th. Finally, Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday, October 17th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.19.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 60,522 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 136,117 shares of company stock worth $39,085,562 in the last quarter. 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.