Salesforce, Inc. (NYSE:CRM) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC cut its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 29,008 shares of the CRM provider’s stock after selling 80 shares during the period. Salesforce comprises about 0.7% of Harbor Investment Advisory LLC’s holdings, making the stock its 23rd biggest holding. Harbor Investment Advisory LLC’s holdings in Salesforce were worth $7,940,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Vanguard Group Inc. lifted its holdings in Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Fisher Asset Management LLC boosted its stake in Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors grew its holdings in Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. Capital International Investors increased its stake in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the transaction, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the sale, the director now owns 1,363 shares of the company’s stock, valued at approximately $376,624.16. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at $13,072,660.02. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 80,612 shares of company stock worth $21,133,273. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Up 2.4 %

Shares of NYSE CRM traded up $6.84 during midday trading on Friday, hitting $287.75. The stock had a trading volume of 6,131,284 shares, compared to its average volume of 6,543,515. 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, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a market capitalization of $278.83 billion, a price-to-earnings ratio of 51.74, a PEG ratio of 2.39 and a beta of 1.30. The company has a fifty day moving average price of $258.53 and a 200 day moving average price of $264.78.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share 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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s payout ratio is 28.78%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Canaccord Genuity Group raised their price objective on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their price target on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Sanford C. Bernstein upped their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Robert W. Baird lifted their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $310.74.

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.