ORG Partners LLC Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

ORG Partners LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 44.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,503 shares of the CRM provider’s stock after selling 2,792 shares during the quarter. ORG Partners LLC’s holdings in Salesforce were worth $959,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP raised its stake in Salesforce by 101.0% in the fourth quarter. Quarry LP now owns 193 shares of the CRM provider’s stock valued at $51,000 after purchasing an additional 97 shares in the last quarter. GLOBALT Investments LLC GA purchased a new stake in Salesforce in the fourth quarter valued at approximately $334,000. American Trust purchased a new position in shares of Salesforce during the fourth quarter worth approximately $265,000. Beacon Financial Group purchased a new position in shares of Salesforce during the fourth quarter worth approximately $371,000. Finally, Chicago Partners Investment Group LLC raised its stake in shares of Salesforce by 1.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Wedbush lifted their price target on shares of Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a report on Friday, August 30th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Raymond James lifted their price target on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.74.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total transaction of $1,211,364.00. Following the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the transaction, the insider now directly owns 118,514 shares in the company, valued at $34,181,807.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 80,612 shares of company stock valued at $21,283,087. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.5 %

CRM traded up $1.33 on Monday, reaching $289.43. The company’s stock had a trading volume of 674,567 shares, compared to its average volume of 6,461,889. 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, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The stock has a 50 day moving average of $261.93 and a two-hundred day moving average of $263.61. The company has a market capitalization of $280.46 billion, a price-to-earnings ratio of 51.95, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal 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 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.