Fiduciary Family Office LLC Sells 384 Shares of Salesforce, Inc. (NYSE:CRM)

Fiduciary Family Office LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 7.7% during the third quarter, Holdings Channel reports. The firm owned 4,630 shares of the CRM provider’s stock after selling 384 shares during the quarter. Fiduciary Family Office LLC’s holdings in Salesforce were worth $1,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CRM. Ruedi Wealth Management Inc. grew its position 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 period. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the period. Clear Investment Research LLC increased its holdings in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares during the last quarter. Godsey & Gibb Inc. raised 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 acquiring an additional 90 shares during the period. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the second quarter valued at about $33,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,932,595.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,932,595.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,003 shares of company stock worth $41,494,084. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on CRM. Bank of America reiterated a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. UBS Group raised their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Cfra set a $343.00 target price on Salesforce in a research note on Thursday, October 17th. Finally, Morgan Stanley boosted their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Trading Down 0.6 %

Shares of Salesforce stock traded down $1.82 during trading on Tuesday, hitting $296.19. The company’s stock had a trading volume of 1,171,763 shares, compared to its average volume of 6,244,327. The stock has a market cap of $283.16 billion, a price-to-earnings ratio of 51.46, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. 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, Inc. has a 52 week low of $204.69 and a 52 week high of $318.71. The stock has a 50-day moving average price of $273.68 and a two-hundred day moving average price of $263.36.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Salesforce 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.