Salesforce Inc. $CRM Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. cut its holdings in shares of Salesforce Inc. (NYSE:CRM) by 0.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,098,720 shares of the CRM provider’s stock after selling 8,955 shares during the period. 1832 Asset Management L.P.’s holdings in Salesforce were worth $299,610,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Painted Porch Advisors LLC boosted its holdings in Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 65 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares during the last quarter. Christopher J. Hasenberg Inc raised its position in shares of Salesforce by 383.3% in the 2nd quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock valued at $32,000 after purchasing an additional 92 shares during the last quarter. Maseco LLP acquired a new stake in Salesforce in the 2nd quarter worth approximately $34,000. Finally, Quaker Wealth Management LLC grew its position in Salesforce by 208.6% during the 2nd quarter. Quaker Wealth Management LLC now owns 126 shares of the CRM provider’s stock worth $34,000 after purchasing an additional 242 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.9%

Shares of CRM stock opened at $234.84 on Wednesday. The stock has a 50 day simple moving average of $242.92 and a 200-day simple moving average of $253.21. Salesforce Inc. has a 1-year low of $221.96 and a 1-year high of $369.00. The company has a market cap of $223.57 billion, a price-to-earnings ratio of 34.13, a PEG ratio of 1.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, September 3rd. The CRM provider reported $2.91 EPS for the quarter, topping the consensus estimate of $2.78 by $0.13. The company had revenue of $10.24 billion during the quarter, compared to analyst estimates of $10.14 billion. Salesforce had a net margin of 16.87% and a return on equity of 13.27%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.56 EPS. On average, equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Investors of record on Wednesday, September 17th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, September 17th. Salesforce’s dividend payout ratio is 24.13%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Salesforce from $404.00 to $405.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 2nd. Bank of America lowered their price target on Salesforce from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Sanford C. Bernstein cut their price objective on Salesforce from $255.00 to $221.00 and set an “underperform” rating on the stock in a report on Thursday, September 4th. Mizuho reduced their price objective on Salesforce from $350.00 to $340.00 and set an “outperform” rating for the company in a research note on Monday, November 17th. Finally, Wells Fargo & Company dropped their target price on Salesforce from $275.00 to $265.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 4th. Twenty-six research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $325.42.

Insider Transactions at Salesforce

In other news, Director David Blair Kirk acquired 3,400 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average cost of $254.66 per share, for a total transaction of $865,844.00. Following the acquisition, the director owned 3,824 shares in the company, valued at approximately $973,819.84. This represents a 801.89% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $251.12, for a total value of $565,020.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at $2,991,233,709.52. The trade was a 0.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 51,872 shares of company stock worth $12,801,203 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

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.