Freedom Investment Management Inc. Has $565,000 Position in Salesforce, Inc. (NYSE:CRM)

Freedom Investment Management Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 48.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,066 shares of the CRM provider’s stock after selling 1,921 shares during the period. Freedom Investment Management Inc.’s holdings in Salesforce were worth $565,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Piscataqua Savings Bank increased its position in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC increased 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 during the last quarter. Stephens Consulting LLC raised its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the 2nd quarter valued at about $33,000. Finally, Godsey & Gibb Inc. increased its stake in shares of 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 purchasing an additional 90 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

NYSE CRM opened at $329.99 on Friday. The firm’s fifty day moving average price is $302.12 and its two-hundred day moving average price is $270.65. The stock has a market cap of $315.47 billion, a PE ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29. 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 fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM) last issued 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 return on equity of 12.01% and a net margin of 15.44%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the previous year, the company posted $1.63 EPS. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Insider Buying and Selling

In other news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated 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 directly owns 828 shares in the company, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now owns 4,659 shares in the company, valued at $1,597,151.79. The trade was a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock worth $42,475,538 in the last ninety days. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CRM. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a research note on Monday, August 26th. Stifel Nicolaus lifted their target price on Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Erste Group Bank upgraded Salesforce from a “hold” rating to a “buy” rating in a research note on Tuesday, November 19th. Sanford C. Bernstein lifted their price objective on shares of Salesforce from $234.00 to $236.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Finally, Raymond James increased their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $341.89.

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.