Planning Capital Management Corp Has $32,000 Position in Salesforce, Inc. (NYSE:CRM)

Planning Capital Management Corp trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 85.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116 shares of the CRM provider’s stock after selling 682 shares during the period. Planning Capital Management Corp’s holdings in Salesforce were worth $32,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Umpqua Bank boosted its holdings in Salesforce by 0.4% during the third quarter. Umpqua Bank now owns 7,708 shares of the CRM provider’s stock worth $2,110,000 after purchasing an additional 34 shares during the last quarter. Nvwm LLC increased its stake in shares of Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock valued at $667,000 after acquiring an additional 36 shares in the last quarter. Prentice Wealth Management LLC boosted its holdings in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after acquiring an additional 37 shares during the last quarter. Private Wealth Management Group LLC boosted its holdings in shares of Salesforce by 11.6% in the 3rd quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after buying an additional 37 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. raised its stake in Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CRM. DA Davidson increased their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. TD Cowen raised their price objective on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group lifted their price target on Salesforce from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday. Nine equities 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $320.23.

Salesforce Stock Performance

NYSE CRM opened at $331.56 on Friday. The company has a market capitalization of $316.97 billion, a PE ratio of 57.66, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company has a 50-day simple moving average of $283.28 and a 200 day simple moving average of $265.84. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

Salesforce (NYSE:CRM) last issued its quarterly earnings data 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 company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.63 earnings per share. On average, research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is currently 27.83%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. This trade represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock worth $41,250,680 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.