Salesforce, Inc. (NYSE:CRM) Shares Sold by Atria Investments Inc

Atria Investments Inc trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 24.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 78,979 shares of the CRM provider’s stock after selling 25,142 shares during the period. Atria Investments Inc’s holdings in Salesforce were worth $21,617,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in CRM. Reynders McVeigh Capital Management LLC lifted its holdings in Salesforce by 12.4% during the 1st quarter. Reynders McVeigh Capital Management LLC now owns 905 shares of the CRM provider’s stock worth $273,000 after buying an additional 100 shares during the last quarter. NorthRock Partners LLC increased its stake in Salesforce by 13.2% in the first quarter. NorthRock Partners LLC now owns 10,294 shares of the CRM provider’s stock valued at $3,100,000 after purchasing an additional 1,201 shares during the last quarter. Pointe Capital Management LLC increased its stake in Salesforce by 13.1% in the first quarter. Pointe Capital Management LLC now owns 1,985 shares of the CRM provider’s stock valued at $598,000 after purchasing an additional 230 shares during the last quarter. Meeder Advisory Services Inc. increased its stake in Salesforce by 6.5% in the first quarter. Meeder Advisory Services Inc. now owns 11,735 shares of the CRM provider’s stock valued at $3,534,000 after purchasing an additional 713 shares during the last quarter. Finally, Verus Capital Partners LLC increased its stake in Salesforce by 4.2% in the first quarter. Verus Capital Partners LLC now owns 1,790 shares of the CRM provider’s stock valued at $539,000 after purchasing an additional 72 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 3.6 %

Salesforce stock opened at $321.95 on Friday. The stock has a market cap of $307.78 billion, a PE ratio of 55.99, a P/E/G ratio of 2.78 and a beta of 1.29. The stock has a 50-day moving average price of $277.76 and a 200 day moving average price of $264.52. Salesforce, Inc. has a 52 week low of $208.84 and a 52 week high of $322.81. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 EPS. Equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction dated 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 owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,573 shares of company stock worth $42,319,874 in the last 90 days. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

CRM has been the topic of a number of research reports. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $270.00 to $400.00 in a research report on Wednesday, October 2nd. BMO Capital Markets raised their target price on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. DA Davidson raised their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. JMP Securities restated a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Finally, Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research report on Friday, September 20th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $313.37.

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.