Salesforce, Inc. (NYSE:CRM) Stock Position Lowered by Greystone Financial Group LLC

Greystone Financial Group LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 19.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,886 shares of the CRM provider’s stock after selling 709 shares during the quarter. Greystone Financial Group LLC’s holdings in Salesforce were worth $790,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRM. XN LP boosted its position in shares of Salesforce by 24.2% during the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in Salesforce by 27.5% during the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock worth $3,284,000 after buying an additional 2,589 shares in the last quarter. M&G Plc acquired a new position in Salesforce in the first quarter worth approximately $2,178,000. 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 buying an additional 228 shares in the last quarter. Finally, Tobam boosted its stake in shares of Salesforce by 7.3% during the 1st quarter. Tobam now owns 1,769 shares of the CRM provider’s stock worth $533,000 after acquiring an additional 120 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRM. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Roth Mkm reissued a “buy” rating and issued a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Robert W. Baird upped their price target on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Citigroup lifted their price objective on shares of Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average price target of $311.66.

Salesforce Price Performance

Shares of Salesforce stock opened at $284.37 on Thursday. 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 company has a market cap of $275.55 billion, a PE ratio of 51.15, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The firm has a fifty day moving average price of $268.70 and a two-hundred day moving average price of $263.24. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share. Analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated 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 owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares of the company’s stock, valued at $15,100,399.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the 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 transaction, the insider now owns 117,581 shares of the company’s stock, valued at $28,362,888.82. This 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 86,812 shares of company stock valued at $23,418,916. Company insiders own 3.20% of the company’s stock.

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.