Wrapmanager Inc. Has $1.03 Million Position in Salesforce, Inc. (NYSE:CRM)

Wrapmanager Inc. trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 49.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,763 shares of the CRM provider’s stock after selling 3,707 shares during the quarter. Wrapmanager Inc.’s holdings in Salesforce were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Capital Research Global Investors grew its position in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Capital International Investors lifted its position in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Legal & General Group Plc lifted its holdings in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after purchasing an additional 1,922,674 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Salesforce by 25.1% in the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after purchasing an additional 877,495 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several research reports. Stifel Nicolaus increased their price objective on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. DA Davidson lifted their target price on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a research report on Friday, August 30th. Roth Mkm restated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Finally, Cfra set a $343.00 price target on shares of Salesforce in a research note on Thursday, October 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $325.36.

Salesforce Stock Performance

CRM opened at $322.25 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $308.07 billion, a price-to-earnings ratio of 56.04, a P/E/G ratio of 2.94 and a beta of 1.29. The business’s 50-day moving average price is $288.14 and its two-hundred day moving average price is $266.96. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal 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 given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the 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 completion of the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the completion of the sale, the insider now directly owns 3,716 shares in the company, valued at approximately $977,122.20. The trade was a 44.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 140,173 shares of company stock worth $40,146,206 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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.