My Personal CFO LLC Sells 107 Shares of Salesforce, Inc. (NYSE:CRM)

My Personal CFO LLC lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 11.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 832 shares of the CRM provider’s stock after selling 107 shares during the period. My Personal CFO LLC’s holdings in Salesforce were worth $228,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CRM. Global Assets Advisory LLC acquired a new stake in Salesforce in the first quarter worth $8,557,000. Mechanics Bank Trust Department acquired a new stake in Salesforce in the first quarter worth $230,000. Fermata Advisors LLC acquired a new stake in Salesforce in the first quarter worth $418,000. Hoxton Planning & Management LLC acquired a new stake in Salesforce in the first quarter worth $220,000. Finally, Exchange Bank acquired a new stake in Salesforce in the first quarter worth $229,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on CRM. JMP Securities restated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Wednesday, August 28th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Cfra set a $343.00 price objective on shares of Salesforce in a report on Thursday. Wedbush lifted 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. Finally, Sanford C. Bernstein lifted their price objective on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Nine 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. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $311.66.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now directly owns 118,514 shares in the company, valued at $34,353,653.18. This 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 other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $289.87, for a total value of $1,217,454.00. Following the transaction, the insider now owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 969 shares of the stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47. The disclosure for this sale can be found here. Insiders have sold 76,110 shares of company stock worth $20,292,760 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock traded down $3.04 during trading on Tuesday, reaching $288.25. 1,795,629 shares of the company’s stock traded hands, compared to its average volume of 6,373,505. The company has a market capitalization of $279.31 billion, a P/E ratio of 52.01, a PEG ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average is $267.44 and its 200 day moving average is $263.18. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The company 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. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

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.