Salesforce, Inc. (NYSE:CRM) Position Trimmed by Summit Trail Advisors LLC

Summit Trail Advisors LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 8.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,545 shares of the CRM provider’s stock after selling 3,639 shares during the period. Summit Trail Advisors LLC’s holdings in Salesforce were worth $10,167,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CRM. Gilbert & Cook Inc. boosted its stake in Salesforce by 6.9% during the 4th quarter. Gilbert & Cook Inc. now owns 5,659 shares of the CRM provider’s stock valued at $1,489,000 after purchasing an additional 366 shares during the period. Aveo Capital Partners LLC increased its stake in Salesforce by 44.7% in the fourth quarter. Aveo Capital Partners LLC now owns 1,605 shares of the CRM provider’s stock valued at $422,000 after acquiring an additional 496 shares during the period. 9258 Wealth Management LLC raised its holdings in shares of Salesforce by 24.0% in the 4th quarter. 9258 Wealth Management LLC now owns 6,483 shares of the CRM provider’s stock worth $1,706,000 after buying an additional 1,253 shares in the last quarter. Gryphon Financial Partners LLC raised its stake in Salesforce by 32.4% during the fourth quarter. Gryphon Financial Partners LLC now owns 3,960 shares of the CRM provider’s stock worth $1,064,000 after acquiring an additional 970 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its holdings in Salesforce by 1.7% during the 4th quarter. TrinityPoint Wealth LLC now owns 8,036 shares of the CRM provider’s stock valued at $2,115,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

Salesforce stock opened at $266.57 on Friday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm’s 50-day simple moving average is $254.14 and its 200 day simple moving average is $266.67. The stock has a market cap of $258.31 billion, a PE ratio of 47.94, a price-to-earnings-growth ratio of 2.26 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.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $1.63 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Buying and Selling at Salesforce

In other news, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the transaction, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the firm’s 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 sale, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The disclosure for this sale can be found here. Insiders have sold 66,576 shares of company stock valued at $16,957,573 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Sanford C. Bernstein upped 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. Jefferies Financial Group dropped their price target on Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Raymond James boosted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Barclays lowered their price objective on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Finally, FBN Securities raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $306.00.

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.