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

Dakota Wealth Management lowered its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 25.8% in the third quarter, according to its most recent disclosure with the SEC. 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 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Kathmere Capital Management LLC acquired a new stake in Salesforce during the 1st quarter valued at $227,000. Hennion & Walsh Asset Management Inc. boosted its position in shares of Salesforce by 60.0% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 6,932 shares of the CRM provider’s stock valued at $2,088,000 after acquiring an additional 2,599 shares during the period. Vicus Capital acquired a new position in shares of Salesforce during the 1st quarter worth approximately $556,000. Founders Financial Securities LLC grew its position in Salesforce by 1.9% during the first quarter. Founders Financial Securities LLC now owns 3,257 shares of the CRM provider’s stock worth $981,000 after buying an additional 60 shares in the last quarter. Finally, Trilogy Capital Inc. bought a new position in shares of Salesforce in the first quarter worth $379,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on CRM. Sanford C. Bernstein upped their price target on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Royal Bank of Canada reissued an “outperform” rating and set a $300.00 price target on shares of Salesforce in a report on Thursday, September 19th. Robert W. Baird lifted their target price on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $312.51.

Insider Buying and Selling

In other Salesforce news, COO Brian Millham sold 969 shares of Salesforce stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $286.56, for a total transaction of $277,676.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Salesforce news, Director Maynard G. Webb, Jr. sold 9,170 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $276.32, for a total value of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares in the company, valued at approximately $376,624.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $286.56, for a total value of $277,676.64. The disclosure for this sale can be found here. Insiders have sold 87,781 shares of company stock worth $23,696,593 in the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

CRM stock opened at $290.46 on Friday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The stock has a market capitalization 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. The company’s 50-day moving average is $269.73 and its 200-day moving average is $263.05. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating 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 firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same quarter last year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current fiscal 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is presently 28.78%.

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.