Versant Capital Management Inc Sells 112 Shares of Salesforce, Inc. (NYSE:CRM)

Versant Capital Management Inc lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,042 shares of the CRM provider’s stock after selling 112 shares during the quarter. Versant Capital Management Inc’s holdings in Salesforce were worth $285,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Spartan Planning & Wealth Management increased its holdings in shares of Salesforce by 66.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after buying an additional 625 shares in the last quarter. Chicago Partners Investment Group LLC grew its holdings in Salesforce by 1.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock worth $1,983,000 after acquiring an additional 95 shares during the last quarter. XN LP raised its stake in shares of Salesforce by 24.2% in the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after acquiring an additional 90,616 shares during the last quarter. M&G Plc bought a new stake in shares of Salesforce during the first quarter valued at approximately $2,178,000. Finally, First Foundation Advisors increased its holdings in shares of Salesforce by 38.0% in the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after purchasing an additional 228 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, COO Brian Millham sold 8,427 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 can be accessed through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $271.75, for a total transaction of $1,141,350.00. Following the completion of the sale, the insider now directly owns 118,514 shares in the company, valued at $32,206,179.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,412 shares of company stock valued at $20,071,723. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. Bank of America reaffirmed a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Friday, September 6th. Morgan Stanley raised their price target on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Oppenheimer lifted their price objective on Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. DA Davidson upped their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Trading Down 1.1 %

Shares of CRM stock opened at $284.48 on Tuesday. The stock’s fifty day simple moving average is $258.53 and its 200 day simple moving average is $264.22. 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 twelve month low of $193.68 and a twelve month high of $318.71. The firm has a market capitalization of $275.66 billion, a P/E ratio of 51.17, a P/E/G ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. Salesforce’s payout ratio is 28.78%.

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.