F M Investments LLC Trims Stock Position in Salesforce, Inc. (NYSE:CRM)

F M Investments LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,636 shares of the CRM provider’s stock after selling 49 shares during the period. F M Investments LLC’s holdings in Salesforce were worth $1,836,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently modified their holdings of CRM. Ruedi Wealth Management Inc. raised its stake in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC increased its position 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 during the last quarter. Godsey & Gibb Inc. raised its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce during the 2nd quarter worth approximately $33,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.1 %

Shares of CRM opened at $294.72 on Friday. The stock has a market cap of $281.75 billion, a PE ratio of 51.26, a P/E/G ratio of 2.68 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $204.69 and a 12 month high of $318.71. The stock’s 50-day moving average is $273.02 and its two-hundred day moving average is $263.27. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. Stifel Nicolaus lifted their target price on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a report on Monday, October 28th. Bank of America reissued a “buy” rating and set a $325.00 target price on shares of Salesforce in a research note on Friday, September 6th. Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, DA Davidson boosted their price objective on Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given 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 target price of $313.37.

Insider Transactions at Salesforce

In other news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 60,522 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 148,303 shares of company stock valued at $42,024,385. Insiders own 3.20% of the company’s stock.

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.