Salesforce, Inc. (NYSE:CRM) Shares Sold by United Services Automobile Association

United Services Automobile Association reduced its position in Salesforce, Inc. (NYSE:CRM) by 4.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,674 shares of the CRM provider’s stock after selling 1,412 shares during the quarter. United Services Automobile Association’s holdings in Salesforce were worth $7,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CRM. Spartan Planning & Wealth Management lifted its stake in shares of Salesforce by 66.3% in the 4th quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock valued at $412,000 after purchasing an additional 625 shares in the last quarter. Parnassus Investments LLC lifted its position in Salesforce by 0.3% during the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after buying an additional 18,397 shares in the last quarter. TD Asset Management Inc grew its stake in Salesforce by 32.6% during the fourth quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock worth $207,756,000 after buying an additional 194,224 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Salesforce by 1.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after acquiring an additional 95 shares during the period. Finally, M&G Plc acquired a new position in shares of Salesforce during the 1st quarter valued at $2,178,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $240.40, for a total value of $673,120.00. Following the completion of the transaction, the insider now owns 115,762 shares in the company, valued at approximately $27,829,184.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $240.40, for a total value of $673,120.00. Following the completion of the sale, the insider now directly owns 115,762 shares in the company, valued at $27,829,184.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Brian Millham sold 4,056 shares of Salesforce stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total value of $1,060,644.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,692 shares of company stock valued at $17,380,857. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.1 %

Shares of Salesforce stock opened at $246.72 on Monday. The stock has a market capitalization of $235.86 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 2.21 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. 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 business’s 50 day simple moving average is $254.52 and its 200-day simple moving average is $269.58.

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. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lowered their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Loop Capital raised their target price on Salesforce from $240.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Royal Bank of Canada restated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, August 29th. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Morgan Stanley upped their target price on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $304.41.

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.