River Global Investors LLP Sells 77 Shares of Salesforce, Inc. (NYSE:CRM)

River Global Investors LLP decreased its position in Salesforce, Inc. (NYSE:CRM) by 2.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,030 shares of the CRM provider’s stock after selling 77 shares during the quarter. River Global Investors LLP’s holdings in Salesforce were worth $829,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Capital Research Global Investors lifted its stake in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after purchasing an additional 3,044,611 shares in the last quarter. Capital International Investors boosted its holdings in shares of Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Legal & General Group Plc grew its position in shares of Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after purchasing an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Up 3.6 %

Shares of NYSE CRM traded up $11.17 during mid-day trading on Friday, reaching $321.95. The company had a trading volume of 8,484,970 shares, compared to its average volume of 3,715,824. Salesforce, Inc. has a 52-week low of $208.84 and a 52-week high of $322.81. The stock has a market cap of $307.78 billion, a P/E ratio of 55.99, a PEG ratio of 2.78 and a beta of 1.29. 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 firm has a 50 day simple moving average of $277.76 and a two-hundred day simple moving average of $264.43.

Salesforce (NYSE:CRM) last posted its earnings results 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. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.63 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued 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 dividend yield of 0.50%. Salesforce’s payout ratio is 27.83%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total value of $1,069,194.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,932,595.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 148,573 shares of company stock worth $42,319,874. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Bank of America reaffirmed a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Friday, September 6th. Canaccord Genuity Group boosted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Friday, September 20th. Finally, Northland Capmk raised Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

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.