Mutual Advisors LLC Sells 2,187 Shares of Salesforce, Inc. (NYSE:CRM)

Mutual Advisors LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 16.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,356 shares of the CRM provider’s stock after selling 2,187 shares during the period. Mutual Advisors LLC’s holdings in Salesforce were worth $3,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of CRM. Capital Research Global Investors boosted its position in Salesforce by 26.9% in the first 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 during the last quarter. GQG Partners LLC bought a new stake in Salesforce during the first quarter valued at approximately $910,220,000. Swedbank AB purchased a new stake in Salesforce during the first quarter valued at approximately $874,748,000. Massachusetts Financial Services Co. MA raised its position in Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. Finally, AMF Tjanstepension AB boosted its stake in shares of Salesforce by 376.1% during the 2nd quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider’s stock worth $370,873,000 after acquiring an additional 1,139,472 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CRM shares. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, August 29th. FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Cfra set a $343.00 target price on shares of Salesforce in a report on Thursday, October 17th. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. Finally, UBS Group increased their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 148,303 shares of company stock valued at $42,024,385. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 0.8 %

CRM opened at $296.62 on Thursday. 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 stock’s 50 day moving average price is $271.75 and its 200-day moving average price is $263.02. Salesforce, Inc. has a one year low of $198.66 and a one year high of $318.71. The stock has a market cap of $283.57 billion, a price-to-earnings ratio of 51.59, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its 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. The business 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%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 0.54%. Salesforce’s dividend payout ratio is currently 27.83%.

About Salesforce

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.