Dakota Wealth Management Sells 2,534 Shares of Salesforce, Inc. (NYSE:CRM)

Dakota Wealth Management reduced its stake in shares of Salesforce, Inc. (NYSE:CRM) by 25.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,289 shares of the CRM provider’s stock after selling 2,534 shares during the period. Dakota Wealth Management’s holdings in Salesforce were worth $1,995,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ruedi Wealth Management Inc. increased its position in Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank increased its holdings in 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 acquiring an additional 96 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the 1st quarter valued at about $33,000. Clear Investment Research LLC lifted its holdings in Salesforce by 816.7% during the second 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 during the last quarter. Finally, Godsey & Gibb Inc. boosted its position in Salesforce by 300.0% during the third 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 period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction 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 directly owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 0.00 % 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. In related news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total value of $1,217,454.00. Following the sale, the insider now directly owns 118,514 shares of the company’s stock, valued at $34,353,653.18. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,781 shares of company stock valued at $23,696,593 over the last quarter. 3.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. BMO Capital Markets boosted their price target on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Loop Capital reissued a “hold” rating and set a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Wedbush raised their price target on Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Finally, Oppenheimer restated an “outperform” rating and issued a $330.00 target price (up previously from $300.00) on shares of Salesforce in a research note on Thursday. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Salesforce Stock Performance

NYSE:CRM opened at $290.46 on Friday. 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 fifty-two week low of $193.68 and a fifty-two week high of $318.71. The business has a 50 day moving average price of $269.73 and a 200-day moving average price of $263.05. The firm has a market cap of $281.46 billion, a PE ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly 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 net margin of 15.44% and a return on equity of 12.01%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.63 EPS. Equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.