New Millennium Group LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

New Millennium Group LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 80,725.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,233 shares of the CRM provider's stock after buying an additional 3,229 shares during the period. New Millennium Group LLC's holdings in Salesforce were worth $885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Prime Capital Investment Advisors LLC lifted its holdings in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider's stock valued at $15,885,000 after purchasing an additional 6,938 shares during the last quarter. AIA Group Ltd lifted its holdings in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider's stock valued at $6,577,000 after purchasing an additional 1,962 shares during the last quarter. Aljian Capital Management LLC lifted its holdings in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider's stock valued at $3,629,000 after purchasing an additional 1,834 shares during the last quarter. Harvest Portfolios Group Inc. increased 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 valued at $24,387,000 after acquiring an additional 10,656 shares during the period. Finally, XN LP increased its position in Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider's stock valued at $119,420,000 after acquiring an additional 90,616 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Royal Bank of Canada restated an "outperform" rating and issued a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. Wells Fargo & Company boosted their price target on Salesforce from $275.00 to $330.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 12th. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. Canaccord Genuity Group boosted their target price on Salesforce from $300.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, August 29th. Finally, DA Davidson boosted their target price on Salesforce from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $325.36.

Salesforce Trading Up 0.3 %

Shares of Salesforce stock traded up $1.04 during trading hours on Tuesday, reaching $323.29. 5,467,790 shares of the company's stock were exchanged, compared to its average volume of 6,306,689. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The firm has a market capitalization of $309.07 billion, a price-to-earnings ratio of 56.09, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29. The company has a fifty day moving average of $288.14 and a 200-day moving average of $266.96. 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 issued its quarterly 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 return on equity of 12.01% and a net margin of 15.44%. The company 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 company posted $1.63 EPS. The business's revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

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

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 3,970 shares of the company's stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now directly owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 3.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Brian Millham sold 60,522 shares of the company's stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The disclosure for this sale can be found here. Insiders sold a total of 140,173 shares of company stock worth $40,146,206 in the last ninety days. Insiders own 3.20% of the company's stock.

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.