Salesforce, Inc. (NYSE:CRM) Shares Sold by Gilbert & Cook Inc.

Gilbert & Cook Inc. reduced its position in Salesforce, Inc. (NYSE:CRM) by 2.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 5,768 shares of the CRM provider’s stock after selling 159 shares during the quarter. Gilbert & Cook Inc.’s holdings in Salesforce were worth $1,579,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Piscataqua Savings Bank lifted its stake in shares of Salesforce by 2,400.0% in 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 raised its holdings 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 valued at $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% during the 3rd 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 purchased a new stake in shares of Salesforce during the 2nd quarter valued at about $33,000. Finally, Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Down 1.9 %

Shares of Salesforce stock opened at $325.26 on Friday. The stock’s fifty day moving average is $286.61 and its 200-day moving average is $266.62. The firm has a market capitalization of $310.95 billion, a PE ratio of 56.57, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. 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 $212.00 and a 12-month high of $348.86.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.63 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. The trade was a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,373 shares of company stock valued at $41,250,680. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on CRM. Needham & Company LLC reiterated a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Wedbush lifted their price objective on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

About Salesforce

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.