Cumberland Partners Ltd Sells 1,000 Shares of Salesforce, Inc. (NYSE:CRM)

Cumberland Partners Ltd lessened its position in Salesforce, Inc. (NYSE:CRM) by 6.6% in the 3rd quarter, Holdings Channel reports. The firm owned 14,100 shares of the CRM provider’s stock after selling 1,000 shares during the period. Cumberland Partners Ltd’s holdings in Salesforce were worth $3,859,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Umpqua Bank increased its position in shares of Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after acquiring an additional 34 shares in the last quarter. Nvwm LLC increased its position in shares of Salesforce by 1.4% during the third quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after acquiring an additional 36 shares in the last quarter. Prentice Wealth Management LLC increased its position in shares of Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares in the last quarter. Private Wealth Management Group LLC increased its position in shares of Salesforce by 11.6% during the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after acquiring an additional 37 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. increased its position in shares of Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after acquiring an additional 38 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

CRM stock traded up $3.28 during mid-day trading on Tuesday, hitting $345.01. The stock had a trading volume of 2,268,424 shares, compared to its average volume of 6,281,073. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $211.76 and a 52 week high of $348.86. The firm has a market capitalization of $329.83 billion, a P/E ratio of 59.43, a P/E/G ratio of 2.91 and a beta of 1.29. The firm has a fifty day simple moving average of $279.53 and a 200 day simple moving average of $264.83.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 analyst estimates of $9.22 billion. During the same period last year, the firm earned $1.63 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 0.46%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, COO Brian Millham sold 4,056 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is owned by insiders.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. Canaccord Genuity Group increased their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Morgan Stanley raised their target price on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their target price on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Finally, BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $314.80.

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.