Salesforce, Inc. (NYSE:CRM) Holdings Trimmed by Curi RMB Capital LLC

Curi RMB Capital LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,522 shares of the CRM provider’s stock after selling 4,357 shares during the period. Salesforce makes up about 1.1% of Curi RMB Capital LLC’s holdings, making the stock its 17th biggest position. Curi RMB Capital LLC’s holdings in Salesforce were worth $48,316,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Zions Bancorporation N.A. lifted its holdings in shares of Salesforce by 10.3% during the 3rd quarter. Zions Bancorporation N.A. now owns 17,866 shares of the CRM provider’s stock valued at $4,890,000 after buying an additional 1,663 shares during the last quarter. KBC Group NV raised its holdings in Salesforce by 171.2% during the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after buying an additional 1,032,068 shares in the last quarter. Summit Asset Management LLC acquired a new stake in Salesforce in the 3rd quarter worth approximately $221,000. Bouvel Investment Partners LLC lifted its position in Salesforce by 0.5% during the 3rd quarter. Bouvel Investment Partners LLC now owns 19,520 shares of the CRM provider’s stock worth $5,343,000 after acquiring an additional 94 shares during the last quarter. Finally, Fortis Capital Management LLC acquired a new stake in shares of Salesforce in the third quarter valued at about $2,952,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of recent research reports. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price objective on shares of Salesforce in a report on Thursday, August 29th. JPMorgan Chase & Co. boosted their price target on shares of Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Finally, TD Cowen lifted their price target on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine 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. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $318.23.

Insider Transactions at Salesforce

In related news, insider Miguel Milano sold 2,934 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $262.95, for a total value of $771,495.30. Following the sale, the insider now directly owns 3,716 shares of the company’s stock, valued at $977,122.20. This trade 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. In other Salesforce news, insider Miguel Milano sold 2,934 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $262.95, for a total transaction of $771,495.30. Following the sale, the insider now owns 3,716 shares of the company’s stock, valued at approximately $977,122.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,373 shares of company stock worth $41,250,680. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.2 %

NYSE:CRM opened at $341.72 on Thursday. The company has a market cap of $326.68 billion, a P/E ratio of 59.43, a P/E/G ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $348.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average price is $283.28 and its two-hundred day moving average price is $265.84.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the prior year, the business posted $1.63 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. As a group, analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given 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 0.47%. Salesforce’s payout ratio is 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.