Ignite Planners LLC Sells 38 Shares of Salesforce, Inc. (NYSE:CRM)

Ignite Planners LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,273 shares of the CRM provider’s stock after selling 38 shares during the quarter. Ignite Planners LLC’s holdings in Salesforce were worth $349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Buying and Selling

In related news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at approximately $13,072,660.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on 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 directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 of the company’s stock, valued at approximately $13,072,660.02. 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 three months, insiders sold 76,412 shares of company stock valued at $20,071,723. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CRM. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. BMO Capital Markets raised their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. UBS Group raised their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, JPMorgan Chase & Co. raised their price objective on Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research note 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $310.74.

Salesforce Price Performance

Shares of Salesforce stock opened at $291.57 on Wednesday. The stock has a market cap of $282.53 billion, a price-to-earnings ratio of 52.44, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $259.05 and a 200-day moving average price of $264.06. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

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

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

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.