Salesforce, Inc. (NYSE:CRM) Shares Bought by Principal Street Partners LLC

Principal Street Partners LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 1.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,297 shares of the CRM provider’s stock after buying an additional 34 shares during the period. Principal Street Partners LLC’s holdings in Salesforce were worth $891,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in CRM. Aviance Capital Partners LLC boosted its stake in shares of Salesforce by 0.5% in the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after purchasing an additional 33 shares during the period. Umpqua Bank increased its holdings in shares of Salesforce by 0.4% in the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock valued at $2,110,000 after purchasing an additional 34 shares during the period. Nvwm LLC boosted its holdings in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after purchasing an additional 36 shares in the last quarter. Prentice Wealth Management LLC grew its holdings in Salesforce by 1.5% during the third quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the period. Finally, Private Wealth Management Group LLC increased its holdings in shares of Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock valued at $98,000 after purchasing an additional 37 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock valued at $42,475,538 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CRM. TD Cowen raised their price objective on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Sanford C. Bernstein upped their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. DA Davidson lifted their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, UBS Group increased their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday. Eight equities research 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’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $339.66.

Salesforce Trading Up 0.4 %

NYSE:CRM opened at $340.61 on Tuesday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The firm has a 50-day moving average price of $296.26 and a two-hundred day moving average price of $268.98. 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 $325.62 billion, a price-to-earnings ratio of 58.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating 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 analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm 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 of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio is currently 27.83%.

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.