David J Yvars Group Cuts Stake in Salesforce, Inc. (NYSE:CRM)

David J Yvars Group cut its stake in Salesforce, Inc. (NYSE:CRM) by 79.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,380 shares of the CRM provider’s stock after selling 13,014 shares during the quarter. Salesforce makes up approximately 0.6% of David J Yvars Group’s portfolio, making the stock its 29th largest holding. David J Yvars Group’s holdings in Salesforce were worth $925,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC boosted its stake in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Stephens Consulting LLC boosted its holdings in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $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. increased its holdings in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

Shares of NYSE CRM opened at $306.90 on Thursday. The stock’s 50-day simple moving average is $275.30 and its 200-day simple moving average is $263.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $293.40 billion, a PE ratio of 53.37, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $208.84 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 company had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $1.63 earnings per share. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 27.83%.

Insider Activity

In other Salesforce news, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the sale, the insider now owns 119,402 shares in the company, valued at $35,431,349.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 149,973 shares of company stock valued at $42,672,142. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CRM shares. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and upped their target price for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Piper Sandler lowered shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Roth Mkm restated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Citigroup boosted their target price on shares of Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a report on Monday, August 26th. Finally, Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Nine 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $313.37.

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.