Global Trust Asset Management LLC Has $644,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Global Trust Asset Management LLC cut its stake in Salesforce, Inc. (NYSE:CRM) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,351 shares of the CRM provider’s stock after selling 186 shares during the quarter. Global Trust Asset Management LLC’s holdings in Salesforce were worth $644,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of CRM. Ruedi Wealth Management Inc. increased its position in Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank boosted its holdings in Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC boosted 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 valued at $28,000 after acquiring an additional 98 shares during the period. Red Tortoise LLC bought a new stake in Salesforce during the first quarter valued at about $33,000. Finally, Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CRM has been the subject of a number of recent analyst reports. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and upped their price target for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Wells Fargo & Company upped their price target on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. BMO Capital Markets increased their target price on shares of Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Finally, FBN Securities upgraded shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $312.51.

Salesforce Stock Performance

Shares of Salesforce stock opened at $286.74 on Friday. The firm has a 50 day simple moving average of $268.70 and a 200 day simple moving average of $263.24. 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, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market cap of $277.85 billion, a P/E ratio of 51.57, a P/E/G ratio of 2.61 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping 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 analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.56%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Transactions at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,812 shares of company stock valued at $23,418,916 over the last three months. Company insiders own 3.20% of the company’s stock.

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.