JNBA Financial Advisors Cuts Stock Position in Salesforce, Inc. (NYSE:CRM)

JNBA Financial Advisors trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,562 shares of the CRM provider’s stock after selling 35 shares during the period. JNBA Financial Advisors’ holdings in Salesforce were worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CRM. Consilium Wealth Advisory LLC boosted its position in shares of Salesforce by 24.8% during the third quarter. Consilium Wealth Advisory LLC now owns 3,693 shares of the CRM provider’s stock worth $1,011,000 after acquiring an additional 733 shares during the last quarter. Concurrent Investment Advisors LLC boosted its holdings in shares of Salesforce by 2.8% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 53,674 shares of the CRM provider’s stock valued at $14,691,000 after purchasing an additional 1,486 shares during the last quarter. Maia Wealth LLC grew its position in shares of Salesforce by 69.2% during the third quarter. Maia Wealth LLC now owns 5,447 shares of the CRM provider’s stock valued at $1,562,000 after purchasing an additional 2,227 shares in the last quarter. Umpqua Bank increased its holdings in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the last quarter. Finally, Harvest Portfolios Group Inc. lifted its position in shares of Salesforce by 13.6% in the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after buying an additional 10,656 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now directly owns 828 shares in the company, valued at $202,702.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 60,522 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 149,973 shares of company stock worth $42,672,142. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 3.2 %

NYSE:CRM opened at $306.90 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a 50-day simple moving average of $275.30 and a 200-day simple moving average of $263.86. Salesforce, Inc. has a one year low of $208.84 and a one year high of $318.71. The firm has a market cap of $293.40 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during 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 was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.63 earnings per share. Equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.52%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CRM shares. Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Canaccord Genuity Group boosted their price target 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. Wells Fargo & Company increased their price objective 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. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Wedbush increased their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

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.