Fmr LLC Sells 4,181,223 Shares of Salesforce, Inc. (NYSE:CRM)

Fmr LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.8% in the third quarter, Holdings Channel.com reports. The fund owned 26,144,887 shares of the CRM provider’s stock after selling 4,181,223 shares during the quarter. Salesforce accounts for approximately 0.4% of Fmr LLC’s portfolio, making the stock its 26th largest position. Fmr LLC’s holdings in Salesforce were worth $7,156,117,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Piscataqua Savings Bank raised its position in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the last quarter. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce during the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. lifted its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

NYSE:CRM opened at $339.12 on Tuesday. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The firm has a market capitalization of $324.20 billion, a price-to-earnings ratio of 58.98, a P/E/G ratio of 3.10 and a beta of 1.29. The stock’s 50 day moving average price is $296.26 and its two-hundred day moving average price is $268.98. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) 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 company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

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

Insider Activity

In other Salesforce news, insider Miguel Milano sold 719 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the transaction, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 3,528 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total transaction of $884,081.52. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $29,464,622.79. This trade represents a 2.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Loop Capital upped their target price on shares of Salesforce from $270.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Robert W. Baird upped their price objective on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. TD Cowen boosted their target price on Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Finally, BMO Capital Markets boosted their price objective on shares of Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $339.66.

Salesforce Company 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.