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

Chicago Capital LLC decreased its stake in Salesforce, Inc. (NYSE:CRM) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 251,995 shares of the CRM provider’s stock after selling 7,361 shares during the period. Salesforce makes up 1.9% of Chicago Capital LLC’s investment portfolio, making the stock its 17th largest holding. Chicago Capital LLC’s holdings in Salesforce were worth $68,973,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. RFG Advisory LLC raised its stake in shares of Salesforce by 23.4% during the 1st quarter. RFG Advisory LLC now owns 6,438 shares of the CRM provider’s stock worth $1,939,000 after buying an additional 1,220 shares during the last quarter. Steph & Co. increased its position in Salesforce by 127.3% during the 1st quarter. Steph & Co. now owns 150 shares of the CRM provider’s stock worth $45,000 after purchasing an additional 84 shares in the last quarter. Northwest Investment Counselors LLC acquired a new position in Salesforce in the 1st quarter valued at about $109,000. CHICAGO TRUST Co NA lifted its holdings in Salesforce by 4.9% in the 1st quarter. CHICAGO TRUST Co NA now owns 5,632 shares of the CRM provider’s stock valued at $1,696,000 after purchasing an additional 261 shares in the last quarter. Finally, Global Trust Asset Management LLC grew its holdings in shares of Salesforce by 40.5% during the first quarter. Global Trust Asset Management LLC now owns 2,670 shares of the CRM provider’s stock worth $804,000 after buying an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

CRM has been the topic of several recent analyst reports. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Phillip Securities restated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. TD Cowen upped their target price on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. JPMorgan Chase & Co. lifted their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $311.66.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 1,155 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares in the company, valued at approximately $5,257,813.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 1,155 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $295,425.90. Following the transaction, the insider now directly owns 20,556 shares of the company’s stock, valued at approximately $5,257,813.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 80,612 shares of company stock valued at $21,429,961 over the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Trading Up 0.6 %

NYSE CRM opened at $292.94 on Friday. The company has a market capitalization of $283.86 billion, a price-to-earnings ratio of 52.69, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company’s fifty day moving average price is $266.65 and its two-hundred day moving average price is $263.49.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period last year, the firm earned $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.