Salesforce, Inc. (NYSE:CRM) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,628 shares of the CRM provider’s stock after selling 488 shares during the period. Geneva Capital Management LLC’s holdings in Salesforce were worth $1,540,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CRM. HBK Sorce Advisory LLC raised its position in Salesforce by 41.3% during the 1st quarter. HBK Sorce Advisory LLC now owns 5,251 shares of the CRM provider’s stock worth $1,582,000 after buying an additional 1,536 shares during the last quarter. Great Lakes Retirement Inc. increased its holdings in shares of Salesforce by 1.4% in the 1st quarter. Great Lakes Retirement Inc. now owns 8,340 shares of the CRM provider’s stock valued at $2,512,000 after purchasing an additional 114 shares in the last quarter. RFP Financial Group LLC increased its holdings in shares of Salesforce by 18.7% in the 1st quarter. RFP Financial Group LLC now owns 387 shares of the CRM provider’s stock valued at $117,000 after purchasing an additional 61 shares in the last quarter. Forum Financial Management LP increased its holdings in shares of Salesforce by 1.7% in the 1st quarter. Forum Financial Management LP now owns 8,221 shares of the CRM provider’s stock valued at $2,476,000 after purchasing an additional 135 shares in the last quarter. Finally, Nwam LLC increased its holdings in shares of Salesforce by 895.1% in the 1st quarter. Nwam LLC now owns 20,011 shares of the CRM provider’s stock valued at $5,548,000 after purchasing an additional 18,000 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Northland Capmk upgraded shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Oppenheimer reissued an “outperform” rating and issued a $330.00 price objective (up from $300.00) on shares of Salesforce in a research note on Thursday, October 24th. Finally, Loop Capital reissued a “hold” rating and issued a $270.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $318.23.

Salesforce Trading Up 0.2 %

NYSE CRM opened at $341.72 on Thursday. The firm has a market capitalization of $326.68 billion, a price-to-earnings ratio of 59.43, a PEG ratio of 3.09 and a beta of 1.29. The company’s 50 day moving average price is $281.40 and its 200 day moving average price is $265.31. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. 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 posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.63 earnings per share. On average, sell-side analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is currently 27.83%.

Insider Activity

In other news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock worth $41,250,680 over the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Company 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.