Salesforce, Inc. (NYSE:CRM) Stock Position Decreased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 42.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 120,570 shares of the CRM provider's stock after selling 88,139 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Salesforce were worth $33,001,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its stake in Salesforce by 3.6% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 43,332 shares of the CRM provider's stock worth $11,860,000 after purchasing an additional 1,515 shares during the period. Saturna Capital Corp boosted its stake in shares of Salesforce by 3.1% during the third quarter. Saturna Capital Corp now owns 6,747 shares of the CRM provider's stock worth $1,847,000 after buying an additional 200 shares during the period. Pinnacle Financial Partners Inc increased its position in Salesforce by 0.4% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 155,408 shares of the CRM provider's stock valued at $42,537,000 after acquiring an additional 565 shares during the period. Simmons Bank lifted its position in Salesforce by 2.8% during the 3rd quarter. Simmons Bank now owns 33,872 shares of the CRM provider's stock worth $9,271,000 after acquiring an additional 907 shares during the period. Finally, Souders Financial Advisors lifted its position in Salesforce by 9.2% during the 3rd quarter. Souders Financial Advisors now owns 4,386 shares of the CRM provider's stock worth $1,201,000 after acquiring an additional 368 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Up 0.2 %

Shares of Salesforce stock traded up $0.57 during trading on Wednesday, reaching $341.72. The company had a trading volume of 6,851,161 shares, compared to its average volume of 6,310,244. The company has a market cap of $326.68 billion, a price-to-earnings ratio of 60.39, a price-to-earnings-growth ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The firm's fifty day moving average is $281.40 and its 200-day moving average is $265.31. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping 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 company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter last year, the firm earned $1.63 EPS. The business's revenue was up 8.5% on a year-over-year basis. On average, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current 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 dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce's dividend payout ratio is currently 27.83%.

Insider Buying and Selling

In other Salesforce news, 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 transaction of $117,824.77. Following the completion of the transaction, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Salesforce news, COO Brian Millham sold 60,522 shares of the business's stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the firm's stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 in the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. Jefferies Financial Group lifted their price objective on shares of Salesforce from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Monday. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an "overweight" rating in a report on Thursday, August 29th. Phillip Securities reiterated an "accumulate" rating and set a $305.00 target price on shares of Salesforce in a research report on Friday, August 30th. Robert W. Baird raised their price target on Salesforce from $295.00 to $315.00 and gave the company an "outperform" rating in a report on Thursday, August 29th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $342.00 price objective on shares of Salesforce in a report on Wednesday, August 28th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and an average target price of $318.23.

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.