NBC Securities Inc. Sells 607 Shares of Salesforce, Inc. (NYSE:CRM)

NBC Securities Inc. cut its stake in Salesforce, Inc. (NYSE:CRM) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,598 shares of the CRM provider’s stock after selling 607 shares during the quarter. NBC Securities Inc.’s holdings in Salesforce were worth $3,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CRM. Boomfish Wealth Group LLC increased its position in shares of Salesforce by 0.4% in the third quarter. Boomfish Wealth Group LLC now owns 9,312 shares of the CRM provider’s stock worth $2,549,000 after purchasing an additional 38 shares during the period. Creative Planning increased its position in shares of Salesforce by 8.0% during the third quarter. Creative Planning now owns 233,743 shares of the CRM provider’s stock worth $63,978,000 after buying an additional 17,350 shares during the period. CX Institutional increased its stake in shares of Salesforce by 2.0% in the 3rd quarter. CX Institutional now owns 5,637 shares of the CRM provider’s stock valued at $1,543,000 after acquiring an additional 110 shares in the last quarter. Sivia Capital Partners LLC grew its stake in Salesforce by 13.1% in the third quarter. Sivia Capital Partners LLC now owns 2,659 shares of the CRM provider’s stock valued at $728,000 after acquiring an additional 307 shares during the period. Finally, Fiduciary Alliance LLC raised its holdings in shares of Salesforce by 5.3% in the 3rd quarter. Fiduciary Alliance LLC now owns 1,262 shares of the CRM provider’s stock worth $345,000 after acquiring an additional 64 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Down 0.4 %

CRM stock traded down $1.10 on Tuesday, reaching $290.54. The company’s stock had a trading volume of 1,133,740 shares, compared to its average volume of 6,449,628. The firm has a market cap of $281.53 billion, a PE ratio of 51.95, a PEG ratio of 2.61 and a beta of 1.30. The business has a fifty day simple moving average of $262.99 and a two-hundred day simple moving average of $263.55. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced 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 net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the firm posted $1.63 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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 $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s payout ratio is 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. JPMorgan Chase & Co. lifted their price objective on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. DA Davidson boosted their target price on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. BMO Capital Markets raised their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Finally, Citigroup upped their price target on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $310.74.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $28,362,888.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 76,412 shares of company stock valued at $20,212,507. Corporate insiders own 3.20% of the company’s stock.

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.