Salesforce, Inc. (NYSE:CRM) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 1.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,526 shares of the CRM provider’s stock after selling 82 shares during the period. Salesforce makes up 0.8% of Wallace Advisory Group LLC’s investment portfolio, making the stock its 27th largest position. Wallace Advisory Group LLC’s holdings in Salesforce were worth $1,164,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after acquiring an additional 736,986 shares in the last quarter. Capital Research Global Investors lifted its stake in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Capital International Investors lifted its stake in Salesforce by 3.0% during 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 lifted its stake 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 in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’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 sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’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 sale, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,133,273 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock traded up $6.84 during mid-day trading on Friday, hitting $287.75. 6,131,284 shares of the company 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. The business’s 50 day simple moving average is $258.53 and its two-hundred day simple moving average is $264.78. The company has a market capitalization of $278.83 billion, a P/E ratio of 51.74, a PEG ratio of 2.39 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71.

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

Salesforce Announces Dividend

The firm 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 of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CRM shares. Stifel Nicolaus increased their price target on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Sanford C. Bernstein increased their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. JPMorgan Chase & Co. increased their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $310.74.

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.