Legacy Private Trust Co. Lowers Position in Salesforce, Inc. (NYSE:CRM)

Legacy Private Trust Co. reduced its stake in Salesforce, Inc. (NYSE:CRM) by 44.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,385 shares of the CRM provider’s stock after selling 4,328 shares during the quarter. Legacy Private Trust Co.’s holdings in Salesforce were worth $1,474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Ruedi Wealth Management Inc. grew its stake 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 acquiring an additional 56 shares during the period. Piscataqua Savings Bank grew its stake in shares of Salesforce by 2,400.0% during the 2nd 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 period. Clear Investment Research LLC grew its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC bought a new position in shares of Salesforce during the 1st quarter worth $33,000. Finally, Stephens Consulting LLC boosted its stake in Salesforce by 3,125.0% in 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 during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Oppenheimer raised their target price on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Wedbush lifted their price target on Salesforce from $315.00 to $325.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Stifel Nicolaus boosted their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. JMP Securities reissued a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Finally, Phillip Securities reissued an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Trading Up 2.5 %

Shares of NYSE:CRM opened at $291.57 on Wednesday. The company has a market cap of $282.53 billion, a P/E ratio of 52.44, a PEG ratio of 2.39 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock’s fifty day moving average price is $259.05 and its 200-day moving average price is $264.06.

Salesforce (NYSE:CRM) last posted 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 return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 earnings per share. Salesforce’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect 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 was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is 28.78%.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Brian Millham sold 8,427 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total transaction of $2,359,560.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,745,045.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,412 shares of company stock valued at $20,071,723. 3.20% of the stock is owned by company insiders.

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.