Nicolet Advisory Services LLC Sells 39 Shares of Salesforce, Inc. (NYSE:CRM)

Nicolet Advisory Services LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,026 shares of the CRM provider’s stock after selling 39 shares during the period. Nicolet Advisory Services LLC’s holdings in Salesforce were worth $1,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Prime Capital Investment Advisors LLC increased its position in Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock valued at $15,885,000 after purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC boosted its stake in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares in the last quarter. AIA Group Ltd increased its position in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares during the period. Harvest Portfolios Group Inc. raised its stake in Salesforce by 13.6% in the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after buying an additional 10,656 shares in the last quarter. Finally, XN LP lifted its holdings in Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after buying an additional 90,616 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $262.90, for a total transaction of $1,104,180.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,912,044.90. This trade represents a 3.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Sabastian Niles sold 2,484 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares in the company, valued at $202,702.68. This trade represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,991 shares of company stock worth $43,333,238. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. UBS Group increased their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday. Piper Sandler lowered Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Loop Capital upped their target price on shares of Salesforce from $270.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Bank of America lifted their price target on shares of Salesforce from $325.00 to $390.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, DA Davidson upped their price objective on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $336.37.

Salesforce Stock Up 1.9 %

NYSE:CRM opened at $342.12 on Friday. The stock has a fifty day simple moving average of $294.61 and a 200-day simple moving average of $268.66. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market cap of $327.07 billion, a price-to-earnings ratio of 59.50, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86.

Salesforce (NYSE:CRM) last issued 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. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.63 EPS. Analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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

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.