Salesforce, Inc. (NYSE:CRM) Shares Sold by Strategic Wealth Investment Group LLC

Strategic Wealth Investment Group LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 9.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,862 shares of the CRM provider’s stock after selling 5,079 shares during the quarter. Salesforce comprises about 1.5% of Strategic Wealth Investment Group LLC’s portfolio, making the stock its 19th largest holding. Strategic Wealth Investment Group LLC’s holdings in Salesforce were worth $13,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Ruedi Wealth Management Inc. boosted its position in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC grew its position in Salesforce by 816.7% during the second 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. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at $33,000. Finally, Stephens Consulting LLC raised its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. Cfra set a $343.00 price target on Salesforce in a research note on Thursday, October 17th. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Sanford C. Bernstein lifted their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. JMP Securities reissued a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Finally, Raymond James increased their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $313.37.

Insider Activity

In related news, insider Parker Harris sold 1,400 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total transaction of $352,268.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,585,731.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, insider Parker Harris sold 1,400 shares of Salesforce stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $251.62, for a total transaction of $352,268.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $29,585,731.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 2,934 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 83,581 shares of company stock valued at $22,616,017. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Shares of CRM opened at $293.81 on Tuesday. The firm has a 50-day simple moving average of $270.30 and a two-hundred day simple moving average of $262.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $197.08 and a 1-year high of $318.71. The stock has a market cap of $284.70 billion, a PE ratio of 52.84, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts forecast 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. Stockholders 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 dividend yield of 0.54%. Salesforce’s dividend payout ratio is presently 28.78%.

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.