Intellectus Partners LLC Sells 3,814 Shares of Salesforce, Inc. (NYSE:CRM)

Intellectus Partners LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 74.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,281 shares of the CRM provider's stock after selling 3,814 shares during the quarter. Intellectus Partners LLC's holdings in Salesforce were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Oak Harbor Wealth Partners LLC increased its holdings in Salesforce by 4.8% during the third quarter. Oak Harbor Wealth Partners LLC now owns 9,327 shares of the CRM provider's stock valued at $2,553,000 after buying an additional 424 shares during the last quarter. Sargent Investment Group LLC grew its position in shares of Salesforce by 1.2% during the 3rd quarter. Sargent Investment Group LLC now owns 5,019 shares of the CRM provider's stock valued at $1,374,000 after acquiring an additional 61 shares during the period. Omnia Family Wealth LLC purchased a new stake in shares of Salesforce in the 3rd quarter worth $222,000. Lifeworks Advisors LLC bought a new position in Salesforce in the 3rd quarter worth $228,000. Finally, Ferguson Wellman Capital Management Inc. lifted its position in Salesforce by 8.0% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 1,777 shares of the CRM provider's stock valued at $486,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 1.9 %

Shares of CRM stock traded down $6.39 during trading hours on Friday, reaching $325.26. 7,093,003 shares of the stock were exchanged, compared to its average volume of 6,319,677. The firm has a market capitalization of $310.95 billion, a price-to-earnings ratio of 56.57, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The company's 50-day moving average price is $286.61 and its 200-day moving average price is $266.64. 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 (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $9.22 billion. During the same quarter in the previous year, the business 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, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's payout ratio is presently 27.83%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares of the company's stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 2,934 shares of the stock in a transaction on Friday, August 23rd. The stock was 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 $977,122.20. The trade was a 44.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,373 shares of company stock worth $41,250,680 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on CRM shares. Jefferies Financial Group upped their price target on Salesforce from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, November 11th. Royal Bank of Canada restated an "outperform" rating and set a $300.00 target price on shares of Salesforce in a research note on Thursday, September 19th. Bank of America upped their price target on shares of Salesforce from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Wednesday. Northland Capmk upgraded shares of Salesforce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. Finally, Citigroup increased their price target on Salesforce from $260.00 to $290.00 and gave the stock a "neutral" rating in a research note on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $322.51.

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.