Grandview Asset Management LLC Sells 313 Shares of Salesforce, Inc. (NYSE:CRM)

Grandview Asset Management LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,184 shares of the CRM provider’s stock after selling 313 shares during the quarter. Salesforce accounts for approximately 1.0% of Grandview Asset Management LLC’s holdings, making the stock its 21st biggest holding. Grandview Asset Management LLC’s holdings in Salesforce were worth $1,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Salesforce by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Fisher Asset Management LLC increased its holdings in shares of 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 in the last quarter. Capital Research Global Investors raised its stake in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Capital International Investors boosted its holdings 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 in the last quarter. Finally, Legal & General Group Plc grew its position in 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 last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,494,155.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at $1,644,921.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $252.75, for a total transaction of $1,061,550.00. Following the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,494,155.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 80,612 shares of company stock valued at $21,133,273. 3.20% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Truist Financial reissued a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research note on Thursday, September 19th. Roth Mkm reissued a “buy” rating and set a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $270.00 to $400.00 in a research note on Wednesday. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Finally, Robert W. Baird raised their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Stock Up 2.4 %

Shares of CRM traded up $6.84 during mid-day trading on Friday, hitting $287.75. 6,131,284 shares of the company’s stock were exchanged, compared to its average volume of 6,543,515. 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 52 week low of $193.68 and a 52 week high of $318.71. The company has a market cap of $278.83 billion, a PE ratio of 51.75, a P/E/G ratio of 2.39 and a beta of 1.30. The company has a 50-day simple moving average of $258.53 and a 200 day simple moving average of $264.52.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

About Salesforce

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.