Meitav Investment House Ltd. Sells 16,628 Shares of Salesforce, Inc. (NYSE:CRM)

Meitav Investment House Ltd. decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,517 shares of the CRM provider’s stock after selling 16,628 shares during the period. Meitav Investment House Ltd.’s holdings in Salesforce were worth $50,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in Salesforce in the second quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Down 0.7 %

Shares of CRM stock opened at $294.45 on Thursday. Salesforce, Inc. has a 12-month low of $198.66 and a 12-month 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 50-day moving average price of $271.75 and a two-hundred day moving average price of $263.02. The firm has a market cap of $281.49 billion, a P/E ratio of 51.59, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly 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 business had revenue of $9.33 billion during 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal 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 given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. DA Davidson increased their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Loop Capital reissued a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Finally, Robert W. Baird increased their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research 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, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Brian Millham sold 60,522 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,586,572.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,303 shares of company stock valued at $42,024,385 in the last 90 days. Insiders own 3.20% of the company’s stock.

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.