My Legacy Advisors LLC Decreases Holdings in Salesforce, Inc. (NYSE:CRM)

My Legacy Advisors LLC lowered its stake in Salesforce, Inc. (NYSE:CRM) by 14.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 2,742 shares of the CRM provider’s stock after selling 459 shares during the period. My Legacy Advisors LLC’s holdings in Salesforce were worth $751,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CRM. Ruedi Wealth Management Inc. increased 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 during the last quarter. Piscataqua Savings Bank increased its position in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Red Tortoise LLC purchased a new stake in Salesforce during the first quarter worth $33,000. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Finally, Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the transaction, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the transaction, the director now owns 1,363 shares of the company’s stock, valued at $376,624.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Brian Millham sold 969 shares of Salesforce stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total transaction of $245,767.47. The disclosure for this sale can be found here. Insiders have sold 76,110 shares of company stock worth $20,292,760 in the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock traded down $3.25 during midday trading on Tuesday, hitting $288.04. The company had a trading volume of 1,598,197 shares, compared to its average volume of 6,372,537. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. 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 company’s 50 day simple moving average is $267.44 and its 200 day simple moving average is $263.18. The stock has a market cap of $279.11 billion, a price-to-earnings ratio of 52.01, a PEG ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Wall Street Analyst Weigh In

CRM has been the subject of a number of analyst reports. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $311.66.

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.