Townsquare Capital LLC Sells 142,541 Shares of Salesforce, Inc. (NYSE:CRM)

Townsquare Capital LLC cut its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 76.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,712 shares of the CRM provider's stock after selling 142,541 shares during the period. Townsquare Capital LLC's holdings in Salesforce were worth $11,964,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CRM. Piscataqua Savings Bank lifted its position in Salesforce by 2,400.0% during 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 in the last quarter. Clear Investment Research LLC lifted its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC grew its stake in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the second quarter valued at approximately $33,000. Finally, Godsey & Gibb Inc. raised its position in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after purchasing an additional 90 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 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 $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the firm's stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company's stock, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock worth $42,475,538 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CRM. Citigroup lifted their target price on Salesforce from $290.00 to $368.00 and gave the company a "neutral" rating in a research note on Wednesday. BMO Capital Markets lifted their price objective on Salesforce from $305.00 to $385.00 and gave the stock an "outperform" rating in a research report on Friday, November 15th. Bank of America boosted their price objective on Salesforce from $325.00 to $390.00 and gave the stock a "buy" rating in a report on Wednesday, November 13th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $310.00 to $340.00 and gave the company an "overweight" rating in a research note on Wednesday, November 20th. Finally, FBN Securities raised shares of Salesforce to a "strong-buy" rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $341.89.

Salesforce Stock Down 3.8 %

Salesforce stock traded down $13.17 during mid-day trading on Thursday, reaching $330.01. The company's stock had a trading volume of 7,471,475 shares, compared to its average volume of 6,302,406. 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 12 month low of $212.00 and a 12 month high of $348.86. The business's 50 day simple moving average is $300.85 and its 200 day simple moving average is $270.29. The company has a market capitalization of $315.49 billion, a price-to-earnings ratio of 57.39, a price-to-earnings-growth ratio of 3.07 and a beta of 1.29.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating 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 analysts' expectations of $9.22 billion. During the same quarter last year, the company earned $1.63 EPS. Salesforce's revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. The ex-dividend date was Wednesday, September 18th. Salesforce's dividend payout ratio (DPR) is 27.83%.

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.