Mirabella Financial Services LLP Sells 145 Shares of Salesforce, Inc. (NYSE:CRM)

Mirabella Financial Services LLP decreased its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,684 shares of the CRM provider’s stock after selling 145 shares during the period. Mirabella Financial Services LLP’s holdings in Salesforce were worth $2,081,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC raised its stake in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares during the period. Aljian Capital Management LLC raised its stake in Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares during the period. AIA Group Ltd raised its stake in Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after acquiring an additional 1,962 shares during the period. Harvest Portfolios Group Inc. raised its stake in Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after acquiring an additional 10,656 shares during the period. Finally, XN LP raised its stake in Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $346.35 on Monday. The business’s 50 day moving average price is $294.61 and its 200 day moving average price is $268.53. The firm has a market cap of $331.11 billion, a P/E ratio of 59.48, a P/E/G ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 firm earned $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Analyst Ratings Changes

A number of brokerages have issued reports on CRM. DA Davidson increased their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Oppenheimer reaffirmed an “outperform” rating and set a $385.00 price objective (up from $330.00) on shares of Salesforce in a report on Thursday. Bank of America increased their price objective on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Loop Capital increased their price objective on shares of Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Monday, August 26th. Eight analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $337.80.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,912,044.90. The trade was a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was 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. Over the last ninety days, insiders sold 147,991 shares of company stock valued at $43,333,238. 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.