Salesforce, Inc. (NYSE:CRM) Shares Sold by Private Wealth Partners LLC

Private Wealth Partners LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,718 shares of the CRM provider’s stock after selling 604 shares during the period. Private Wealth Partners LLC’s holdings in Salesforce were worth $4,028,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Optas LLC grew its holdings in Salesforce by 1.5% in the 3rd quarter. Optas LLC now owns 7,242 shares of the CRM provider’s stock worth $1,982,000 after buying an additional 107 shares in the last quarter. Princeton Global Asset Management LLC boosted its position in Salesforce by 8,433.3% during the 3rd quarter. Princeton Global Asset Management LLC now owns 256 shares of the CRM provider’s stock worth $70,000 after acquiring an additional 253 shares during the period. Greenwich Wealth Management LLC grew its stake in shares of Salesforce by 4.5% in the third quarter. Greenwich Wealth Management LLC now owns 2,671 shares of the CRM provider’s stock worth $731,000 after purchasing an additional 114 shares in the last quarter. BluePath Capital Management LLC increased its holdings in shares of Salesforce by 19.0% during the third quarter. BluePath Capital Management LLC now owns 3,646 shares of the CRM provider’s stock valued at $998,000 after purchasing an additional 582 shares during the period. Finally, Phillips Wealth Planners LLC raised its stake in shares of Salesforce by 21.1% during the third quarter. Phillips Wealth Planners LLC now owns 1,886 shares of the CRM provider’s stock valued at $549,000 after purchasing an additional 328 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was 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, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 148,303 shares of company stock valued at $42,024,385. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 1.1 %

NYSE:CRM opened at $294.72 on Friday. The company’s 50 day moving average is $273.02 and its 200-day moving average is $263.27. 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, Inc. has a 12 month low of $204.69 and a 12 month high of $318.71. The firm has a market cap of $281.75 billion, a price-to-earnings ratio of 51.26, a P/E/G ratio of 2.68 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS 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 issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research report on Monday, August 26th. Phillip Securities reiterated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. Raymond James upped their target price on Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Citigroup lifted their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Finally, UBS Group boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $313.37.

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.