Salesforce, Inc. (NYSE:CRM) Shares Sold by Verus Capital Partners LLC

Verus Capital Partners LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 22.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 828 shares of the CRM provider’s stock after selling 242 shares during the quarter. Verus Capital Partners LLC’s holdings in Salesforce were worth $227,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. AIA Group Ltd boosted its holdings in Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares in the last quarter. Harvest Portfolios Group Inc. lifted its holdings in shares of Salesforce by 13.6% during the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after purchasing an additional 10,656 shares during the period. XN LP lifted its holdings in shares of Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after purchasing an additional 2,589 shares during the period. Finally, M&G Plc acquired a new stake in shares of Salesforce during the first quarter worth about $2,178,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $341.72 on Thursday. The stock’s fifty day moving average is $281.40 and its two-hundred day moving average is $265.31. The firm has a market capitalization of $326.68 billion, a P/E ratio of 59.43, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings data 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 company 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 firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.63 earnings per share. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Morgan Stanley lifted their target price on Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Oppenheimer reiterated an “outperform” rating and set a $330.00 price target (up from $300.00) on shares of Salesforce in a research report on Thursday, October 24th. Finally, UBS Group lifted their price target on Salesforce from $250.00 to $275.00 and gave the company a “neutral” 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $318.23.

Insider Activity

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 20th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Miguel Milano sold 2,934 shares of the company’s stock in a transaction on 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 $977,122.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,920,275.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock valued at $41,250,680 in the last quarter. 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.