Mission Creek Capital Partners Inc. Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Mission Creek Capital Partners Inc. lessened its stake in Salesforce, Inc. (NYSE:CRM) by 15.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,896 shares of the CRM provider’s stock after selling 1,582 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in Salesforce were worth $2,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Piscataqua Savings Bank boosted its holdings in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Infrastructure Capital Advisors LLC bought a new position in Salesforce during the third quarter valued at approximately $27,000. Clear Investment Research LLC grew its holdings in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the 2nd quarter worth approximately $33,000. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,223,020.24. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,982 shares of company stock worth $41,591,457. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CRM. Evercore ISI restated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and increased their price target for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their price objective on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Oppenheimer reiterated an “outperform” rating and issued a $385.00 target price (up previously from $330.00) on shares of Salesforce in a report on Thursday, November 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Friday, September 20th. Seven investment analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $345.31.

Salesforce Stock Up 0.2 %

Salesforce stock opened at $331.77 on Wednesday. The company has a market capitalization of $317.17 billion, a P/E ratio of 57.70, a PEG ratio of 3.00 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The stock has a 50-day simple moving average of $304.68 and a 200-day simple moving average of $271.14. 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 released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. Equities research analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued 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 0.48%. Salesforce’s dividend payout ratio is currently 27.83%.

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.