Pathstone Holdings LLC Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Pathstone Holdings LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 0.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,218 shares of the CRM provider’s stock after selling 34 shares during the period. Pathstone Holdings LLC’s holdings in Salesforce were worth $30,178,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Piscataqua Savings Bank raised its position in Salesforce by 2,400.0% during 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 in the last quarter. Clear Investment Research LLC grew 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 worth $28,000 after buying an additional 98 shares in the last quarter. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter valued at about $33,000. Finally, Stephens Consulting LLC lifted its stake in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Sanford C. Bernstein raised their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. upped their target price on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Wells Fargo & Company increased their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Finally, Morgan Stanley boosted their price target on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $325.36.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold a total of 140,173 shares of company stock worth $40,146,206 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $322.25 on Tuesday. The firm’s fifty day moving average is $288.14 and its two-hundred day moving average is $266.96. The firm has a market cap of $308.07 billion, a price-to-earnings ratio of 56.04, a PEG ratio of 2.94 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced 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. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.