My Personal CFO LLC Sells 107 Shares of Salesforce, Inc. (NYSE:CRM)

My Personal CFO LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 11.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 832 shares of the CRM provider’s stock after selling 107 shares during the quarter. My Personal CFO LLC’s holdings in Salesforce were worth $228,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ruedi Wealth Management Inc. grew its holdings 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 grew its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the 1st quarter worth $33,000. Finally, Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on CRM. JPMorgan Chase & Co. raised their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Loop Capital reissued a “hold” rating and issued a $270.00 price target on shares of Salesforce in a report on Thursday, September 19th. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $311.66.

Salesforce Stock Performance

Shares of CRM stock traded down $3.04 during trading hours on Tuesday, reaching $288.25. The company had a trading volume of 1,795,629 shares, compared to its average volume of 6,373,505. The business has a fifty day moving average price of $267.44 and a 200-day moving average price of $263.18. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $279.31 billion, a PE ratio of 52.01, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. 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 (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 earnings per share. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Activity at Salesforce

In other news, COO Brian Millham sold 969 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $253.63, for a total value of $245,767.47. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at $30,251,239.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Brian Millham sold 969 shares of the company’s stock in a transaction on Wednesday, July 24th. The shares were 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. Over the last ninety days, insiders sold 76,110 shares of company stock worth $20,292,760. 3.20% of the stock is owned by company insiders.

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.