Salesforce, Inc. (NYSE:CRM) Shares Sold by Prudent Man Advisors LLC

Prudent Man Advisors LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 3,870 shares of the CRM provider’s stock after selling 177 shares during the quarter. Prudent Man Advisors LLC’s holdings in Salesforce were worth $1,059,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in CRM. Prime Capital Investment Advisors LLC raised its position in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. AIA Group Ltd grew its position in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the period. Harvest Portfolios Group Inc. raised its stake in shares of Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after buying an additional 10,656 shares during the last quarter. XN LP lifted its holdings in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after buying an additional 90,616 shares during the period. Finally, Atomi Financial Group Inc. boosted its stake in shares of Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after buying an additional 2,589 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Wedbush boosted their price target on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. JPMorgan Chase & Co. raised their price target 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. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Finally, Jefferies Financial Group raised their target price on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $322.51.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

NYSE CRM opened at $325.26 on Monday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The firm has a market capitalization of $310.95 billion, a P/E ratio of 56.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The stock’s fifty day moving average is $286.61 and its two-hundred day moving average is $266.61. 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 (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The company 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 of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is currently 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.