Hexagon Capital Partners LLC Sells 114 Shares of Salesforce, Inc. (NYSE:CRM)

Hexagon Capital Partners LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 12.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 817 shares of the CRM provider’s stock after selling 114 shares during the period. Hexagon Capital Partners LLC’s holdings in Salesforce were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CRM. Capital Research Global Investors raised its stake in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. GQG Partners LLC acquired a new stake in shares of Salesforce in the first quarter valued at approximately $910,220,000. Swedbank AB bought a new stake in shares of Salesforce in the first quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after acquiring an additional 1,922,674 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock valued at $893,336,000 after acquiring an additional 1,780,421 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CRM. FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. DA Davidson boosted their price target on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Bank of America reiterated a “buy” rating and issued a $325.00 target price on shares of Salesforce in a research report on Friday, September 6th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Up 0.8 %

Shares of NYSE:CRM opened at $290.17 on Friday. The business’s 50 day simple moving average is $260.30 and its two-hundred day simple moving average is $264.11. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $281.17 billion, a P/E ratio of 52.19, a PEG ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’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 completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. This represents 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 this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred 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 sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,181,807.88. 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 sold 80,612 shares of company stock valued at $21,283,087. 3.20% of the stock is owned by insiders.

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.