Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 125,851 Shares of Salesforce, Inc. (NYSE:CRM)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 28.0% in the third quarter, HoldingsChannel.com reports. The firm owned 323,992 shares of the CRM provider’s stock after selling 125,851 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Salesforce were worth $92,908,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank grew its stake 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 period. Clear Investment Research LLC increased its position in shares of Salesforce by 816.7% during the 2nd 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 last quarter. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the completion of the transaction, the insider now owns 118,514 shares of the company’s stock, valued at approximately $34,353,653.18. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,581 shares of company stock valued at $22,616,017. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Wedbush boosted their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

Salesforce Trading Down 0.6 %

Shares of NYSE CRM traded down $1.78 during mid-day trading on Wednesday, hitting $297.11. The stock had a trading volume of 88,253 shares, compared to its average volume of 6,283,454. The business has a 50 day moving average price of $271.04 and a two-hundred day moving average price of $262.78. Salesforce, Inc. has a 1 year low of $198.66 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $284.04 billion, a P/E ratio of 51.99, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

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.