Eagle Strategies LLC Has $571,000 Stake in Salesforce, Inc. (NYSE:CRM)

Eagle Strategies LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 68.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,086 shares of the CRM provider’s stock after selling 4,447 shares during the quarter. Eagle Strategies LLC’s holdings in Salesforce were worth $571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Jacobsen Capital Management lifted its position in shares of Salesforce by 12.6% during the third quarter. Jacobsen Capital Management now owns 1,578 shares of the CRM provider’s stock valued at $432,000 after purchasing an additional 176 shares in the last quarter. Fidelis Capital Partners LLC increased its stake in Salesforce by 8.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 10,322 shares of the CRM provider’s stock valued at $2,936,000 after buying an additional 779 shares during the last quarter. Valmark Advisers Inc. lifted its position in shares of Salesforce by 14.2% during the 3rd quarter. Valmark Advisers Inc. now owns 3,034 shares of the CRM provider’s stock worth $830,000 after buying an additional 377 shares in the last quarter. Bay Rivers Group boosted its stake in shares of Salesforce by 2.2% in the 3rd quarter. Bay Rivers Group now owns 7,599 shares of the CRM provider’s stock worth $2,080,000 after buying an additional 166 shares during the last quarter. Finally, GW Henssler & Associates Ltd. purchased a new stake in shares of Salesforce during the third quarter valued at approximately $16,917,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $298.93 on Wednesday. Salesforce, Inc. has a 12 month low of $197.08 and a 12 month high of $318.71. The firm has a market capitalization of $285.78 billion, a P/E ratio of 51.99, a P/E/G 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 business has a fifty day simple moving average of $271.04 and a two-hundred day simple moving average of $262.78.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (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 during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the company posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Insiders Place Their Bets

In other news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 969 shares of Salesforce stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,581 shares of company stock valued at $22,616,017. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CRM. Citigroup boosted their price objective on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Sanford C. Bernstein raised their price objective on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research note on Friday, September 20th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Finally, Morgan Stanley boosted their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.