Eagle Strategies LLC Trims Stake in Salesforce, Inc. (NYSE:CRM)

Eagle Strategies LLC decreased its stake in Salesforce, Inc. (NYSE:CRM) by 68.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,086 shares of the CRM provider’s stock after selling 4,447 shares during the quarter. Eagle Strategies LLC’s holdings in Salesforce were worth $571,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Jacobsen Capital Management boosted its holdings in shares of Salesforce by 12.6% during the 3rd quarter. Jacobsen Capital Management now owns 1,578 shares of the CRM provider’s stock valued at $432,000 after purchasing an additional 176 shares during the last quarter. Fidelis Capital Partners LLC grew its stake in shares of Salesforce by 8.2% in the 3rd quarter. Fidelis Capital Partners LLC now owns 10,322 shares of the CRM provider’s stock worth $2,936,000 after buying an additional 779 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of Salesforce by 14.2% in the 3rd quarter. Valmark Advisers Inc. now owns 3,034 shares of the CRM provider’s stock worth $830,000 after buying an additional 377 shares during the last quarter. Bay Rivers Group raised its position in shares of Salesforce by 2.2% during the 3rd quarter. Bay Rivers Group now owns 7,599 shares of the CRM provider’s stock valued at $2,080,000 after buying an additional 166 shares in the last quarter. Finally, GW Henssler & Associates Ltd. bought a new position in shares of Salesforce in the 3rd quarter valued at about $16,917,000. Institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 83,581 shares of company stock worth $22,616,017 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $298.93 on Wednesday. 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 has a 50 day moving average price of $271.04 and a 200-day moving average price of $262.78. Salesforce, Inc. has a 1-year low of $197.08 and a 1-year high of $318.71. The firm has a market cap of $285.78 billion, a price-to-earnings ratio of 51.99, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

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, beating analysts’ consensus estimates 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 analysts’ expectations of $9.22 billion. During the same quarter in the previous year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.54%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRM shares. Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Canaccord Genuity Group boosted their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. DA Davidson raised their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $313.37.

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.