DRW Securities LLC Sells 2,485 Shares of Salesforce, Inc. (NYSE:CRM)

DRW Securities LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 21.2% during the third quarter, Holdings Channel reports. The institutional investor owned 9,262 shares of the CRM provider’s stock after selling 2,485 shares during the period. DRW Securities LLC’s holdings in Salesforce were worth $2,535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Piscataqua Savings Bank boosted its stake in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC grew 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 worth $28,000 after buying an additional 98 shares in the last quarter. Stephens Consulting LLC raised its position in Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after buying an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the 2nd quarter valued at $33,000. Finally, Godsey & Gibb Inc. boosted its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 90 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,991 shares of company stock worth $43,333,238 over the last three months. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Erste Group Bank raised shares of Salesforce from a “hold” rating to a “buy” rating in a research report on Tuesday, November 19th. Bank of America boosted their target price on Salesforce from $325.00 to $390.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. JMP Securities lifted their price target on Salesforce from $342.00 to $450.00 and gave the stock a “market outperform” rating in a report on Friday. Roth Mkm restated a “buy” rating and issued a $335.00 price objective on shares of Salesforce in a research note on Thursday, August 29th. Finally, Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $337.80.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $342.02 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $294.61 and a 200-day moving average price of $268.53. The company has a market cap of $326.97 billion, a price-to-earnings ratio of 59.48, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 0.47%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 27.83%.

Salesforce Company 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.