Salesforce, Inc. (NYSE:CRM) Shares Sold by Fairscale Capital LLC

Fairscale Capital LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,381 shares of the CRM provider’s stock after selling 40 shares during the period. Salesforce accounts for approximately 1.1% of Fairscale Capital LLC’s holdings, making the stock its 22nd largest holding. Fairscale Capital LLC’s holdings in Salesforce were worth $1,201,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Gabelli Funds LLC grew its holdings in shares of Salesforce by 34.0% during the 1st quarter. Gabelli Funds LLC now owns 2,150 shares of the CRM provider’s stock worth $648,000 after purchasing an additional 545 shares during the period. Mount Yale Investment Advisors LLC grew its holdings in shares of Salesforce by 59.2% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 1,258 shares of the CRM provider’s stock worth $379,000 after purchasing an additional 468 shares during the period. Zurich Insurance Group Ltd FI grew its holdings in shares of Salesforce by 1.9% during the 1st quarter. Zurich Insurance Group Ltd FI now owns 483,651 shares of the CRM provider’s stock worth $145,666,000 after purchasing an additional 9,249 shares during the period. Waverly Advisors LLC grew its holdings in shares of Salesforce by 134.0% during the 1st quarter. Waverly Advisors LLC now owns 9,663 shares of the CRM provider’s stock worth $2,910,000 after purchasing an additional 5,534 shares during the period. Finally, Blackstone Inc. purchased a new stake in shares of Salesforce during the 1st quarter worth about $48,189,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Trading Up 1.9 %

Shares of NYSE CRM opened at $342.02 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a market cap of $326.97 billion, a price-to-earnings ratio of 59.48, a P/E/G ratio of 3.04 and a beta of 1.29. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business has a fifty day simple moving average of $294.61 and a 200-day simple moving average of $268.60.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. Salesforce’s revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Buying and Selling

In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $262.90, for a total value of $1,104,180.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,912,044.90. This represents a 3.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the 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 directly owns 7,006 shares of the company’s stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,991 shares of company stock valued at $43,333,238. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Wedbush boosted their price target on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research report on Friday, September 27th. JPMorgan Chase & Co. boosted their price target on Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $336.37.

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.