Salesforce, Inc. (NYSE:CRM) Shares Sold by Mathes Company Inc.

Mathes Company Inc. trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 3.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,725 shares of the CRM provider’s stock after selling 100 shares during the quarter. Mathes Company Inc.’s holdings in Salesforce were worth $701,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Ruedi Wealth Management Inc. raised its position in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Piscataqua Savings Bank raised its holdings in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new stake in shares of Salesforce during the first quarter valued at $33,000. Finally, Stephens Consulting LLC increased its position in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,576 shares of company stock valued at $16,957,573. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. DA Davidson raised their price target on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Wedbush reaffirmed an “outperform” rating and set a $315.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Sanford C. Bernstein lifted their price objective on Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average target price of $305.55.

Salesforce Trading Down 1.1 %

Salesforce stock opened at $252.42 on Thursday. The firm has a 50-day moving average price of $253.60 and a two-hundred day moving average price of $267.01. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The firm has a market capitalization of $244.59 billion, a price-to-earnings ratio of 45.40, a PEG ratio of 2.26 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.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.63%. Salesforce’s dividend payout ratio is presently 28.78%.

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.