DekaBank Deutsche Girozentrale Sells 2,512 Shares of Salesforce, Inc. (NYSE:CRM)

DekaBank Deutsche Girozentrale lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,237,031 shares of the CRM provider’s stock after selling 2,512 shares during the quarter. Salesforce comprises 0.6% of DekaBank Deutsche Girozentrale’s investment portfolio, making the stock its 26th biggest holding. DekaBank Deutsche Girozentrale owned about 0.13% of Salesforce worth $341,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in CRM. Ruedi Wealth Management Inc. grew its stake in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares during the period. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% in the 2nd 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. Clear Investment Research LLC grew its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC bought a new stake in Salesforce during the 1st quarter valued at $33,000. Finally, Stephens Consulting LLC raised its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 1.3 %

Shares of CRM opened at $290.46 on Friday. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The stock has a market cap of $281.46 billion, a PE ratio of 52.24, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $269.73 and its 200-day moving average price is $263.05.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the firm posted $1.63 EPS. Salesforce’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on CRM. DA Davidson boosted their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 target price on shares of Salesforce in a research report on Wednesday, August 28th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. Nine research 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.51.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $257.28, for a total value of $1,080,576.00. Following the completion of the transaction, the insider now owns 117,581 shares of the company’s stock, valued at $30,251,239.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $257.28, for a total transaction of $1,080,576.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,251,239.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $262.95, for a total value of $771,495.30. Following the transaction, the insider now directly owns 3,716 shares in the company, valued at approximately $977,122.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 87,781 shares of company stock valued at $23,696,593 over the last three months. 3.20% of the stock is owned by corporate insiders.

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.