Salesforce, Inc. (NYSE:CRM) Shares Sold by DE Burlo Group Inc.

DE Burlo Group Inc. lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 16,164 shares of the CRM provider’s stock after selling 260 shares during the quarter. DE Burlo Group Inc.’s holdings in Salesforce were worth $4,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. GS Investments Inc. lifted its holdings in Salesforce by 73.3% during the third quarter. GS Investments Inc. now owns 12,034 shares of the CRM provider’s stock valued at $3,294,000 after purchasing an additional 5,088 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in Salesforce by 42.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 757,583 shares of the CRM provider’s stock valued at $207,358,000 after purchasing an additional 227,359 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Salesforce by 0.9% during the third quarter. Citizens Financial Group Inc. RI now owns 81,696 shares of the CRM provider’s stock valued at $22,383,000 after purchasing an additional 694 shares in the last quarter. Finally, Payden & Rygel lifted its holdings in Salesforce by 14.6% during the third quarter. Payden & Rygel now owns 4,700 shares of the CRM provider’s stock valued at $1,286,000 after purchasing an additional 600 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. This trade represents a 44.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 3,528 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $250.59, for a total value of $884,081.52. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $29,464,622.79. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 136,117 shares of company stock valued at $39,085,562. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CRM. Sanford C. Bernstein raised their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $270.00 to $400.00 in a research note on Wednesday, October 2nd. Bank of America raised their price target on shares of Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Raymond James raised their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $326.19.

Salesforce Price Performance

NYSE:CRM opened at $325.70 on Thursday. The business’s 50-day moving average price is $291.21 and its 200 day moving average price is $267.72. The firm has a market cap of $311.37 billion, a P/E ratio of 56.64, a PEG ratio of 2.93 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio is currently 27.83%.

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.