Salesforce, Inc. (NYSE:CRM) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 70.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,552 shares of the CRM provider's stock after selling 55,715 shares during the quarter. Moran Wealth Management LLC's holdings in Salesforce were worth $6,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. 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 valued at $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC increased its stake 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 in the last quarter. Stephens Consulting LLC increased its stake in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in Salesforce in the 2nd quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. increased its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Up 4.5 %

Shares of NYSE CRM traded up $14.69 during midday trading on Thursday, reaching $340.39. 3,037,757 shares of the company's stock were exchanged, compared to its average volume of 6,280,981. 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 $325.41 billion, a PE ratio of 57.48, a price-to-earnings-growth ratio of 2.93 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business's fifty day moving average price is $291.21 and its two-hundred day moving average price is $267.72.

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, topping analysts' consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.63 earnings per share. Analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's dividend payout ratio is currently 27.83%.

Analyst Ratings Changes

Several equities analysts recently weighed in on CRM shares. Citigroup raised their price objective on Salesforce from $260.00 to $290.00 and gave the company a "neutral" rating in a research note on Monday, August 26th. Evercore ISI reaffirmed an "outperform" rating and issued a $300.00 price objective on shares of Salesforce in a research note on Monday, August 26th. Jefferies Financial Group raised 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. Bank of America raised their price target on Salesforce from $325.00 to $390.00 and gave the stock a "buy" rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. raised their price target on Salesforce from $310.00 to $340.00 and gave the stock an "overweight" rating in a research report on Wednesday. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned 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 target price of $327.72.

Insider Activity at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business's stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 136,117 shares of company stock valued at $39,085,562 over the last three months. 3.20% of the stock is owned by 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.