Stifel Financial Corp Sells 30,187 Shares of Salesforce, Inc. (NYSE:CRM)

Stifel Financial Corp lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,198,885 shares of the CRM provider’s stock after selling 30,187 shares during the period. Stifel Financial Corp’s holdings in Salesforce were worth $328,168,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Prime Capital Investment Advisors LLC boosted its stake in Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares in the last quarter. Aljian Capital Management LLC boosted its stake in Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares in the last quarter. AIA Group Ltd boosted its stake in Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new position in Salesforce in the 3rd quarter worth about $3,672,000. Finally, Harvest Portfolios Group Inc. raised its position in Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock worth $24,387,000 after buying an additional 10,656 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Sabastian Niles sold 2,484 shares of the company’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated 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 transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,982 shares of company stock worth $41,591,457. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. DA Davidson boosted their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday. TD Cowen upped their price target on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Royal Bank of Canada upped their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup increased their target price on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Morgan Stanley increased their target price on shares of Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a report on Wednesday. Eight research analysts have rated the stock with a hold rating, thirty have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $370.50.

Salesforce Stock Up 11.0 %

Shares of NYSE CRM opened at $367.94 on Thursday. The firm has a market capitalization of $351.75 billion, a PE ratio of 60.52, a price-to-earnings-growth ratio of 3.00 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The firm’s 50-day moving average is $306.55 and its 200-day moving average is $271.81.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.31% and a net margin of 15.96%. The firm had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period in the previous year, the business earned $1.62 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

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.