Werba Rubin Papier Wealth Management Sells 239 Shares of Salesforce, Inc. (NYSE:CRM)

Werba Rubin Papier Wealth Management decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the 3rd quarter, Holdings Channel reports. The fund owned 9,481 shares of the CRM provider’s stock after selling 239 shares during the quarter. Werba Rubin Papier Wealth Management’s holdings in Salesforce were worth $2,595,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. RFG Advisory LLC lifted its holdings in shares of Salesforce by 23.4% during the 1st quarter. RFG Advisory LLC now owns 6,438 shares of the CRM provider’s stock valued at $1,939,000 after purchasing an additional 1,220 shares in the last quarter. Steph & Co. lifted its stake in Salesforce by 127.3% in the first quarter. Steph & Co. now owns 150 shares of the CRM provider’s stock valued at $45,000 after buying an additional 84 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in Salesforce in the first quarter valued at approximately $109,000. CHICAGO TRUST Co NA boosted its holdings in shares of Salesforce by 4.9% in the first quarter. CHICAGO TRUST Co NA now owns 5,632 shares of the CRM provider’s stock valued at $1,696,000 after buying an additional 261 shares during the period. Finally, Global Trust Asset Management LLC increased its position in shares of Salesforce by 40.5% during the first quarter. Global Trust Asset Management LLC now owns 2,670 shares of the CRM provider’s stock worth $804,000 after acquiring an additional 770 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Amy E. Weaver sold 897 shares of the 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 $229,434.66. Following the sale, the chief financial officer now owns 51,109 shares in the company, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through 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 transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,429,961 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.6 %

Shares of CRM stock opened at $292.94 on Friday. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a market capitalization of $283.86 billion, a PE ratio of 52.69, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The firm has a 50 day moving average price of $266.65 and a two-hundred day moving average price of $263.49. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 posted $1.63 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of research analyst reports. Roth Mkm reaffirmed a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research note on Thursday, August 29th. BMO Capital Markets upped their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. TD Cowen lifted their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Finally, Robert W. Baird lifted their price objective on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. 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 data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average target price of $311.66.

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.