Salesforce, Inc. (NYSE:CRM) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA cut its holdings in Salesforce, Inc. (NYSE:CRM) by 20.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 242,522 shares of the CRM provider’s stock after selling 62,051 shares during the quarter. Glenmede Trust Co. NA’s holdings in Salesforce were worth $66,381,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Piscataqua Savings Bank increased its position in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC increased its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce during the second quarter worth $33,000. Finally, Godsey & Gibb Inc. grew its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

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

Salesforce Stock Performance

Shares of NYSE:CRM opened at $343.21 on Wednesday. The firm has a market capitalization of $328.11 billion, a PE ratio of 59.69, a P/E/G ratio of 3.07 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day moving average of $298.02 and a two-hundred day moving average of $269.44.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 27.83%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI restated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. JMP Securities upped their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a report on Friday, November 22nd. Erste Group Bank raised Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Truist Financial raised their price target on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a research report on Monday. Finally, Oppenheimer reiterated an “outperform” rating and issued a $385.00 price objective (up from $330.00) on shares of Salesforce in a research report on Thursday, November 21st. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average price target of $339.66.

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.