Salesforce, Inc. (NYSE:CRM) Shares Sold by Portfolio Design Labs LLC

Portfolio Design Labs LLC lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 41.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,318 shares of the CRM provider's stock after selling 4,522 shares during the quarter. Portfolio Design Labs LLC's holdings in Salesforce were worth $1,729,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. 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 worth $26,000 after buying an additional 96 shares during the period. Clear Investment Research LLC lifted its stake in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. increased its position in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock valued at $33,000 after buying an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce during the 2nd quarter valued at about $33,000. Finally, Stephens Consulting LLC increased its position in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 0.7 %

NYSE CRM traded up $2.27 during trading on Wednesday, reaching $325.70. 3,565,206 shares of the company's stock were exchanged, compared to its average volume of 6,295,385. The company has a 50 day moving average price of $289.68 and a two-hundred day moving average price of $267.31. 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, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The stock has a market cap of $311.37 billion, a P/E ratio of 56.22, a price-to-earnings-growth ratio of 2.94 and a beta of 1.29.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS 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 business had revenue of $9.33 billion for the quarter, compared to analysts' expectations of $9.22 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business's revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

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

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 2,934 shares of Salesforce stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the completion of the transaction, the insider now directly owns 3,716 shares in the company, valued at approximately $977,122.20. This trade represents a 44.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 52,930 shares of the company's stock, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,173 shares of company stock valued at $40,146,206 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. BNP Paribas raised Salesforce to a "strong-buy" rating in a report on Thursday, August 29th. 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. Needham & Company LLC reiterated a "buy" rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 20th. Piper Sandler downgraded Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 10th. Finally, Morgan Stanley increased their price target on Salesforce from $320.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $326.19.

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.