Burns J W & Co. Inc. NY Sells 624 Shares of Salesforce, Inc. (NYSE:CRM)

Burns J W & Co. Inc. NY trimmed its stake in Salesforce, Inc. (NYSE:CRM) by 6.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,140 shares of the CRM provider’s stock after selling 624 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Salesforce were worth $2,502,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Mirador Capital Partners LP boosted its holdings in Salesforce by 57.1% in the third quarter. Mirador Capital Partners LP now owns 3,430 shares of the CRM provider’s stock worth $939,000 after acquiring an additional 1,246 shares in the last quarter. Central Valley Advisors LLC lifted its holdings in shares of Salesforce by 4.4% during the third quarter. Central Valley Advisors LLC now owns 6,430 shares of the CRM provider’s stock valued at $1,760,000 after purchasing an additional 271 shares in the last quarter. LifePlan Financial LLC lifted its holdings in shares of Salesforce by 27.4% during the third quarter. LifePlan Financial LLC now owns 8,463 shares of the CRM provider’s stock valued at $2,316,000 after purchasing an additional 1,822 shares in the last quarter. MRA Advisory Group boosted its position in shares of Salesforce by 11.1% during the third quarter. MRA Advisory Group now owns 1,004 shares of the CRM provider’s stock valued at $275,000 after buying an additional 100 shares during the last quarter. Finally, Duncan Williams Asset Management LLC bought a new stake in Salesforce in the 3rd quarter worth about $628,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Raymond James raised their target price on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their price target for the company from $270.00 to $400.00 in a report on Wednesday. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Eight investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $310.74.

Salesforce Price Performance

CRM traded up $6.84 during trading on Friday, reaching $287.75. 6,131,284 shares of the company traded hands, compared to its average volume of 6,543,515. 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 $193.68 and a 12-month high of $318.71. The firm has a fifty day simple moving average of $258.53 and a 200 day simple moving average of $264.78. The company has a market cap of $278.83 billion, a P/E ratio of 51.74, a PEG ratio of 2.39 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the firm posted $1.63 EPS. The company’s revenue was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

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

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 8,427 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 the SEC website. In other news, COO Brian Millham sold 8,427 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $280.00, for a total value of $2,359,560.00. 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 company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This represents 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 corporate insiders.

Salesforce 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.