Grandview Asset Management LLC Sells 313 Shares of Salesforce, Inc. (NYSE:CRM)

Grandview Asset Management LLC decreased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,184 shares of the CRM provider’s stock after selling 313 shares during the quarter. Salesforce comprises approximately 1.0% of Grandview Asset Management LLC’s investment portfolio, making the stock its 21st largest holding. Grandview Asset Management LLC’s holdings in Salesforce were worth $1,693,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after purchasing an additional 736,986 shares in the last quarter. Capital Research Global Investors grew its stake in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. Capital International Investors increased its position in Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares in the last quarter. Finally, Legal & General Group Plc raised its stake in Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the period. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. BMO Capital Markets upped their target price on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $270.00 to $400.00 in a research note on Wednesday. DA Davidson boosted their target price on shares of Salesforce from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company raised their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, August 29th. Finally, TD Cowen boosted their price objective on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Price Performance

Shares of CRM stock traded up $6.84 during trading on Friday, hitting $287.75. The company had a trading volume of 6,131,284 shares, compared to its average volume of 6,543,515. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The stock has a market capitalization of $278.83 billion, a price-to-earnings ratio of 51.75, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock’s 50-day moving average is $258.53 and its two-hundred day moving average is $264.52.

Salesforce (NYSE:CRM) last posted 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. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $1.63 EPS. As a group, analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is 28.78%.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 8,427 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total transaction of $2,359,560.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $280.00, for a total value of $2,359,560.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock worth $21,133,273 in the last quarter. 3.20% of the stock is owned by insiders.

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.