My Legacy Advisors LLC Sells 459 Shares of Salesforce, Inc. (NYSE:CRM)

My Legacy Advisors LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 14.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,742 shares of the CRM provider’s stock after selling 459 shares during the period. My Legacy Advisors LLC’s holdings in Salesforce were worth $751,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in CRM. Vanguard Group Inc. lifted its position in shares of Salesforce by 1.2% during 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 purchasing an additional 1,008,841 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Salesforce by 26.9% in the first 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 during the period. Capital International Investors grew its holdings in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares in the last quarter. Legal & General Group Plc increased its position in shares of Salesforce by 2.2% during 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 buying an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Parker Harris sold 2,800 shares of the firm’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 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,110 shares of company stock valued at $20,292,760. 3.20% of the stock is owned by company insiders.

Salesforce Stock Performance

NYSE:CRM traded down $3.25 during trading hours on Tuesday, reaching $288.04. The company had a trading volume of 1,598,197 shares, compared to its average volume of 6,372,537. The firm’s 50 day moving average price is $267.44 and its 200-day moving average price is $263.18. The firm has a market cap of $279.11 billion, a price-to-earnings ratio of 52.01, a PEG ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71.

Salesforce (NYSE:CRM) last posted 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 company 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%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.63 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders 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 0.56%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analyst Ratings Changes

Several research firms have issued reports on CRM. Raymond James increased their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 29th. BNP Paribas raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Robert W. Baird increased their price target on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Loop Capital restated a “hold” rating and set a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Finally, JPMorgan Chase & Co. raised their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $311.66.

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.