Salesforce, Inc. (NYSE:CRM) Stock Position Lowered by ORG Partners LLC

ORG Partners LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 44.4% during the third quarter, Holdings Channel reports. The institutional investor owned 3,503 shares of the CRM provider’s stock after selling 2,792 shares during the quarter. ORG Partners LLC’s holdings in Salesforce were worth $959,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC raised its position in Salesforce by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after buying an additional 95 shares during the period. XN LP boosted its stake in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares during the period. Atomi Financial Group Inc. lifted its position in shares of Salesforce by 27.5% in the 3rd quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after acquiring an additional 2,589 shares during the period. M&G Plc bought a new stake in shares of Salesforce in the 1st quarter worth approximately $2,178,000. Finally, First Foundation Advisors boosted its position in shares of Salesforce by 38.0% in the 1st quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock worth $249,000 after purchasing an additional 228 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE:CRM traded up $1.33 on Monday, hitting $289.43. The company’s stock had a trading volume of 674,567 shares, compared to its average volume of 6,461,889. The company has a 50-day simple moving average of $261.93 and a 200 day simple moving average of $263.61. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a market capitalization of $280.46 billion, a PE ratio of 51.95, a PEG ratio of 2.61 and a beta of 1.30. 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 released its quarterly 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 return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. Salesforce’s dividend payout ratio is 28.78%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Maynard G. Webb, Jr. sold 9,170 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 80,612 shares of company stock valued at $21,283,087. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on CRM shares. Wedbush lifted their target price on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Oppenheimer boosted their price target on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Finally, Morgan Stanley boosted their price objective on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Nine equities research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.74.

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.