JB Capital LLC Sells 815 Shares of Salesforce, Inc. (NYSE:CRM)

JB Capital LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 32.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,716 shares of the CRM provider’s stock after selling 815 shares during the period. JB Capital LLC’s holdings in Salesforce were worth $470,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Duality Advisers LP bought a new stake in Salesforce during the first quarter worth about $1,280,000. Envestnet Portfolio Solutions Inc. raised its stake in Salesforce by 21.7% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 55,819 shares of the CRM provider’s stock valued at $16,811,000 after buying an additional 9,941 shares during the period. Wealthspire Advisors LLC raised its stake in Salesforce by 0.7% in the first quarter. Wealthspire Advisors LLC now owns 7,573 shares of the CRM provider’s stock valued at $2,281,000 after buying an additional 53 shares during the period. Hilltop National Bank bought a new stake in Salesforce in the first quarter valued at approximately $603,000. Finally, PFG Advisors raised its stake in Salesforce by 9.2% in the first quarter. PFG Advisors now owns 1,674 shares of the CRM provider’s stock valued at $504,000 after buying an additional 141 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,920,275.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 148,573 shares of company stock worth $42,319,874. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.3 %

Shares of NYSE:CRM opened at $310.78 on Friday. 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 $275.30 and a 200 day simple moving average of $263.86. Salesforce, Inc. has a 12-month low of $208.84 and a 12-month high of $318.71. The firm has a market cap of $297.11 billion, a P/E ratio of 54.05, a P/E/G ratio of 2.70 and a beta of 1.29.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the business posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. Analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.51%. Salesforce’s payout ratio is currently 27.83%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CRM shares. Wells Fargo & Company upped their price objective on Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday, August 29th. Raymond James upped their target price on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. DA Davidson upped their target price on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, Wedbush upped their target price on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce 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.