Salesforce, Inc. (NYSE:CRM) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 1.1% in the third quarter, Holdings Channel reports. The firm owned 253,427 shares of the CRM provider’s stock after selling 2,797 shares during the period. Vontobel Holding Ltd.’s holdings in Salesforce were worth $69,366,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. boosted its holdings in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC grew its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC acquired a new position in Salesforce during the 1st quarter valued at approximately $33,000. Finally, Stephens Consulting LLC increased its stake in 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 purchasing an additional 125 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CRM. Wedbush boosted their price objective on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Oppenheimer increased their price objective on Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Morgan Stanley lifted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their target price on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Finally, BMO Capital Markets raised their price target on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Price Performance

Salesforce stock traded down $0.90 during midday trading on Wednesday, reaching $287.45. The company had a trading volume of 720,527 shares, compared to its average volume of 6,434,966. The company has a market capitalization of $278.54 billion, a P/E ratio of 51.65, a P/E/G ratio of 2.61 and a beta of 1.30. The firm’s fifty day simple moving average is $263.98 and its 200-day simple moving average is $263.46. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. 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 (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 firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’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 earned $1.63 earnings per share. As a group, equities analysts anticipate 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 paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider R David Schmaier sold 1,155 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the completion of the sale, the insider now owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 76,412 shares of company stock worth $20,212,507. 3.20% of the stock is owned by 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.