Lake Street Advisors Group LLC Sells 460 Shares of Salesforce, Inc. (NYSE:CRM)

Lake Street Advisors Group LLC trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,025 shares of the CRM provider’s stock after selling 460 shares during the period. Lake Street Advisors Group LLC’s holdings in Salesforce were worth $3,022,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Capital Research Global Investors increased its position 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 purchasing an additional 3,044,611 shares during the last quarter. Capital International Investors increased its position in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after purchasing an additional 407,834 shares during the last quarter. Legal & General Group Plc boosted its stake in Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in 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 worth $1,518,658,000 after buying an additional 1,922,674 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. FBN Securities upgraded Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Robert W. Baird boosted their price target on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Piper Sandler downgraded Salesforce from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 10th. Stifel Nicolaus boosted their price target on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, Canaccord Genuity Group upped their price objective on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 2,800 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 completion of the sale, the insider now directly owns 117,581 shares in the company, 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 SEC, which is available through this hyperlink. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of Salesforce stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the transaction, the director now directly owns 1,363 shares in the company, valued at $376,624.16. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 86,812 shares of company stock valued at $23,418,916. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 2.2 %

Shares of NYSE CRM traded up $6.20 during midday trading on Friday, reaching $292.96. 920,494 shares of the stock were exchanged, compared to its average volume of 6,322,983. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The business has a 50-day simple moving average of $268.70 and a two-hundred day simple moving average of $263.24. The company has a market capitalization of $283.88 billion, a price-to-earnings ratio of 51.57, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping the consensus estimate 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%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.63 EPS. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 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.