Summit Trail Advisors LLC Has $11.72 Million Position in Salesforce, Inc. (NYSE:CRM)

Summit Trail Advisors LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 8.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 42,741 shares of the CRM provider’s stock after purchasing an additional 3,196 shares during the quarter. Summit Trail Advisors LLC’s holdings in Salesforce were worth $11,716,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% during the second 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 period. Clear Investment Research LLC increased its holdings in 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 in the last quarter. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the second quarter valued at about $33,000. Finally, Godsey & Gibb Inc. boosted its position in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This represents a 87.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. In the last three months, insiders sold 147,991 shares of company stock worth $43,333,238. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 1.9 %

CRM stock opened at $342.02 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a market capitalization of $326.97 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. The company’s 50-day simple moving average is $294.61 and its 200 day simple moving average is $268.60. 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 earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping 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 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 business posted $1.63 EPS. The business’s revenue was up 8.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on CRM shares. Scotiabank began coverage on Salesforce in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 target price on the stock. Needham & Company LLC reissued a “buy” rating and issued a $345.00 price objective on shares of Salesforce in a research report on Friday, September 20th. Jefferies Financial Group raised their target price on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Sanford C. Bernstein boosted 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. Finally, Oppenheimer restated an “outperform” rating and issued a $385.00 price objective (up previously from $330.00) on shares of Salesforce in a report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $336.37.

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.