Ascent Group LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Ascent Group LLC reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 18.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,002 shares of the CRM provider’s stock after selling 3,554 shares during the period. Ascent Group LLC’s holdings in Salesforce were worth $4,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Piscataqua Savings Bank raised its position in Salesforce by 2,400.0% during the second 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. Infrastructure Capital Advisors LLC purchased a new stake in Salesforce during the 3rd quarter valued at $27,000. Clear Investment Research LLC raised 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 valued at $28,000 after buying an additional 98 shares during the period. Godsey & Gibb Inc. lifted its position in Salesforce by 300.0% in 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 last quarter. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Salesforce during the second quarter worth $33,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 719 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,528 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $29,464,622.79. The trade was a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock worth $42,475,538 over the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $329.99 on Monday. 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 fifty day moving average price is $302.12 and its 200-day moving average price is $270.49. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The firm has a market capitalization of $315.47 billion, a PE ratio of 57.39, a price-to-earnings-growth ratio of 2.99 and a beta of 1.29.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CRM. Wells Fargo & Company increased their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. BMO Capital Markets increased their price objective on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a research report on Friday, November 15th. Oppenheimer restated an “outperform” rating and set a $385.00 target price (up previously from $330.00) on shares of Salesforce in a research report on Thursday, November 21st. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Sanford C. Bernstein raised their price target on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $341.89.

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.