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

Financial Insights Inc. lowered its position in Salesforce, Inc. (NYSE:CRM) by 47.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,865 shares of the CRM provider’s stock after selling 1,701 shares during the quarter. Financial Insights Inc.’s holdings in Salesforce were worth $510,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Capital Research Global Investors lifted its stake in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. GQG Partners LLC purchased a new stake in Salesforce in the first quarter valued at approximately $910,220,000. Swedbank AB purchased a new stake in Salesforce in the first quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA lifted its stake in Salesforce by 48.3% in the second 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 buying an additional 1,922,674 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its stake in Salesforce by 376.1% in the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock valued at $370,873,000 after buying an additional 1,139,472 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research reports. Morgan Stanley boosted their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Sanford C. Bernstein upped their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. JMP Securities restated a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research note on Wednesday, August 28th. Finally, Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $311.66.

Salesforce Stock Down 1.0 %

CRM opened at $288.24 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market cap of $279.30 billion, a P/E ratio of 51.84, a PEG ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The business’s fifty day simple moving average is $268.12 and its 200 day simple moving average is $263.09.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business 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%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.63 earnings per share. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 4,056 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Salesforce news, COO Brian Millham sold 4,056 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $288.82, for a total value of $1,213,044.00. Following the completion of the transaction, the insider now owns 118,514 shares in the company, valued at approximately $34,229,213.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 85,502 shares of company stock valued at $23,045,186. Insiders own 3.20% of the company’s stock.

Salesforce Company 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.