Chevy Chase Trust Holdings LLC Sells 10,277 Shares of Salesforce, Inc. (NYSE:CRM)

Chevy Chase Trust Holdings LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 1.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 521,843 shares of the CRM provider’s stock after selling 10,277 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Salesforce worth $142,834,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Piscataqua Savings Bank lifted its position in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the 3rd quarter valued at $27,000. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after buying an additional 98 shares in the last quarter. Godsey & Gibb Inc. boosted its stake in shares of Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several recent research reports. Phillip Securities reissued an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Scotiabank began coverage on Salesforce in a report on Monday, November 18th. They issued a “sector outperform” rating and a $425.00 price objective for the company. Canaccord Genuity Group boosted their target price on shares of Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 price target on shares of Salesforce in a research note on Friday, September 20th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $300.00 price objective on shares of Salesforce in a research note on Thursday, September 19th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $343.89.

Insider Activity

In related news, insider Miguel Milano sold 719 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at $1,597,151.79. This trade represents a 13.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,510 shares of company stock valued at $42,475,538. Insiders own 3.20% of the company’s stock.

Salesforce Stock Down 0.0 %

Shares of CRM opened at $329.99 on Monday. 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, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The stock has a market capitalization of $315.47 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29. The stock has a fifty day moving average of $302.12 and a 200-day moving average of $270.49.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

About Salesforce

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.