Salesforce, Inc. (NYSE:CRM) Shares Sold by MAI Capital Management

MAI Capital Management reduced its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 4.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 39,629 shares of the CRM provider's stock after selling 1,903 shares during the period. MAI Capital Management's holdings in Salesforce were worth $10,847,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Capital Research Global Investors increased its holdings in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider's stock valued at $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. Swedbank AB purchased a new position in shares of Salesforce in the 1st quarter valued at about $874,748,000. Veritas Asset Management LLP acquired a new position in Salesforce in the 3rd quarter worth about $733,805,000. Massachusetts Financial Services Co. MA boosted its position in Salesforce by 48.3% during 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 purchasing an additional 1,922,674 shares in the last quarter. Finally, AMF Tjanstepension AB grew its holdings in Salesforce by 376.1% in the second quarter. AMF Tjanstepension AB now owns 1,442,453 shares of the CRM provider's stock valued at $370,873,000 after purchasing an additional 1,139,472 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In other news, CFO Amy E. Weaver sold 897 shares of the company's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $255,905.13. Following the completion of the sale, the chief financial officer now directly owns 52,930 shares of the company's stock, valued at approximately $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business's stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,173 shares of company stock valued at $40,146,206. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 0.4 %

Salesforce stock traded up $1.18 during midday trading on Tuesday, reaching $323.43. The company's stock had a trading volume of 5,456,534 shares, compared to its average volume of 6,306,640. The company has a market cap of $309.20 billion, a P/E ratio of 56.09, a P/E/G ratio of 2.94 and a beta of 1.29. 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 has a 50-day simple moving average of $288.14 and a 200-day simple moving average of $266.96. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. On average, research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group upped their target price on Salesforce from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Monday, November 11th. Loop Capital lifted their target price on shares of Salesforce from $270.00 to $340.00 and gave the company a "hold" rating in a research report on Thursday, November 14th. Northland Capmk upgraded Salesforce from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. Scotiabank began coverage on Salesforce in a research note on Monday. They issued a "sector outperform" rating and a $425.00 price target on the stock. Finally, TD Cowen raised their price objective on Salesforce from $285.00 to $290.00 and gave the company a "hold" rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $325.36.

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.