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

WP Advisors LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,656 shares of the CRM provider’s stock after selling 829 shares during the quarter. WP Advisors LLC’s holdings in Salesforce were worth $1,822,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Umpqua Bank boosted its stake in shares of Salesforce by 0.4% during the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after buying an additional 34 shares during the last quarter. Nvwm LLC boosted its stake in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after buying an additional 36 shares during the last quarter. Prentice Wealth Management LLC boosted its stake in shares of Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after buying an additional 37 shares during the last quarter. Private Wealth Management Group LLC boosted its stake in shares of Salesforce by 11.6% during the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after buying an additional 37 shares during the last quarter. Finally, Fulton Bank N.A. boosted its stake in shares of Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after buying an additional 38 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $325.26 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s 50 day moving average is $286.61 and its two-hundred day moving average is $266.61. The company has a market cap of $310.95 billion, a P/E ratio of 56.57, a P/E/G ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly 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. The company 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 for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. On average, equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Sanford C. Bernstein raised their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Canaccord Genuity Group raised their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. UBS Group raised their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Jefferies Financial Group raised their price target on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $322.51.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. This trade represents a 3.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. The trade was a 75.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock valued at $41,250,680 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce 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.