Salesforce, Inc. (NYSE:CRM) Shares Sold by Occidental Asset Management LLC

Occidental Asset Management LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 8.8% in the third quarter, HoldingsChannel reports. The fund owned 4,522 shares of the CRM provider’s stock after selling 435 shares during the quarter. Occidental Asset Management LLC’s holdings in Salesforce were worth $1,238,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Prentice Wealth Management LLC boosted its position in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares in the last quarter. Fox Hill Wealth Management lifted its position in shares of Salesforce by 4.0% during the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after buying an additional 38 shares in the last quarter. Fulton Bank N.A. grew its stake in Salesforce by 0.4% in the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after acquiring an additional 38 shares during the period. Finally, CRA Financial Services LLC increased its holdings in Salesforce by 3.4% in the 3rd quarter. CRA Financial Services LLC now owns 1,160 shares of the CRM provider’s stock worth $318,000 after acquiring an additional 38 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now owns 118,514 shares in the company, valued at $34,181,807.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the sale, the insider now 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 Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 76,412 shares of company stock worth $20,212,507 in the last ninety days. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CRM shares. Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Oppenheimer raised their price target on shares of Salesforce from $280.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Loop Capital reissued a “hold” rating and set a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. lifted their price target on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Nine research 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. According to MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Up 1.3 %

CRM opened at $291.77 on Tuesday. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $262.99 and a 200-day simple moving average of $263.55. The firm has a market cap of $282.73 billion, a P/E ratio of 52.48, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its 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. The company 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%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. On average, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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