Strait & Sound Wealth Management LLC Has $838,000 Stake in Salesforce, Inc. (NYSE:CRM)

Strait & Sound Wealth Management LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 15.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,060 shares of the CRM provider’s stock after selling 539 shares during the quarter. Strait & Sound Wealth Management LLC’s holdings in Salesforce were worth $838,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Synergy Financial Group LTD raised its stake in Salesforce by 6.1% in the 3rd quarter. Synergy Financial Group LTD now owns 2,077 shares of the CRM provider’s stock valued at $569,000 after acquiring an additional 120 shares during the period. Orion Capital Management LLC raised its position in shares of Salesforce by 0.8% in the third quarter. Orion Capital Management LLC now owns 4,894 shares of the CRM provider’s stock valued at $1,340,000 after purchasing an additional 40 shares during the period. Geode Capital Management LLC lifted its stake in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after buying an additional 257,501 shares during the last quarter. Brophy Wealth Management LLC bought a new stake in shares of Salesforce during the 3rd quarter worth about $1,290,000. Finally, Resources Management Corp CT ADV grew its stake in Salesforce by 1.1% in the 3rd quarter. Resources Management Corp CT ADV now owns 6,007 shares of the CRM provider’s stock valued at $1,644,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. DA Davidson boosted their price objective on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Needham & Company LLC boosted their price target on Salesforce from $345.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Robert W. Baird upped their price objective on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Finally, Guggenheim restated a “neutral” rating on shares of Salesforce in a research note on Wednesday, December 4th. Eight equities research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $372.86.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. This trade represents a 3.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now owns 52,930 shares in the company, valued at $15,100,399.70. This trade represents a 1.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 140,982 shares of company stock valued at $41,591,457 over the last quarter. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

Shares of Salesforce stock opened at $351.49 on Tuesday. The company’s 50 day moving average price is $311.53 and its two-hundred day moving average price is $273.32. The firm has a market capitalization of $336.38 billion, a P/E ratio of 57.81, a P/E/G ratio of 3.27 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.62 earnings per share. On average, equities analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

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.