D.A. Davidson & CO. Sells 6,441 Shares of Salesforce, Inc. (NYSE:CRM)

D.A. Davidson & CO. lowered its stake in Salesforce, Inc. (NYSE:CRM) by 9.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 59,292 shares of the CRM provider’s stock after selling 6,441 shares during the period. D.A. Davidson & CO.’s holdings in Salesforce were worth $16,229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. 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 valued at $26,000 after acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Godsey & Gibb Inc. raised its holdings in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce during the second quarter valued at approximately $33,000. Finally, Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 1.2 %

CRM stock opened at $343.21 on Wednesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The business’s 50-day moving average is $298.02 and its two-hundred day moving average is $269.44. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market cap of $328.11 billion, a price-to-earnings ratio of 59.69, a P/E/G ratio of 3.10 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results 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 return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. Salesforce’s revenue was up 8.5% on a year-over-year basis. As a group, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced 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 0.47%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 27.83%.

Insider Buying and Selling at Salesforce

In other news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total value 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. This trade represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CRM. BMO Capital Markets upped their target price on Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 15th. TD Cowen upped their target price on Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Cfra set a $343.00 target price on Salesforce in a report on Thursday, October 17th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Citigroup upped their price target on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $339.66.

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.