Armstrong Advisory Group Inc. Sells 90 Shares of Salesforce, Inc. (NYSE:CRM)

Armstrong Advisory Group Inc. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 25.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 266 shares of the CRM provider’s stock after selling 90 shares during the quarter. Armstrong Advisory Group Inc.’s holdings in Salesforce were worth $73,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of CRM. Sunflower Bank N.A. lifted its position in shares of Salesforce by 10.4% during the third quarter. Sunflower Bank N.A. now owns 2,775 shares of the CRM provider’s stock worth $760,000 after acquiring an additional 262 shares in the last quarter. Sawyer & Company Inc raised its stake in shares of Salesforce by 1.8% during the 3rd quarter. Sawyer & Company Inc now owns 19,163 shares of the CRM provider’s stock valued at $5,245,000 after purchasing an additional 348 shares during the period. Sound Income Strategies LLC lifted its holdings in Salesforce by 20.3% during the 3rd quarter. Sound Income Strategies LLC now owns 639 shares of the CRM provider’s stock worth $175,000 after purchasing an additional 108 shares in the last quarter. Douglas Lane & Associates LLC bought a new position in Salesforce in the 3rd quarter worth about $24,808,000. Finally, CVA Family Office LLC grew its holdings in Salesforce by 8.9% during the 3rd quarter. CVA Family Office LLC now owns 1,614 shares of the CRM provider’s stock valued at $442,000 after buying an additional 132 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,181,807.88. This represents a 0.00 % 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. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now owns 118,514 shares in the company, valued at $34,181,807.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 76,412 shares of company stock valued at $20,212,507 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of CRM opened at $291.77 on Tuesday. The company has a market capitalization of $282.73 billion, a P/E ratio of 52.48, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. 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 50 day moving average of $262.99 and a 200 day moving average of $263.55.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Phillip Securities restated an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Sanford C. Bernstein boosted their target price on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Nine 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. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

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.