Curi RMB Capital LLC Decreases Position in Salesforce, Inc. (NYSE:CRM)

Curi RMB Capital LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 176,522 shares of the CRM provider’s stock after selling 4,357 shares during the quarter. Salesforce makes up about 1.1% of Curi RMB Capital LLC’s holdings, making the stock its 17th largest holding. Curi RMB Capital LLC’s holdings in Salesforce were worth $48,316,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Capital Research Global Investors increased its stake in Salesforce by 26.9% during the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Salesforce in the 1st quarter worth approximately $910,220,000. Swedbank AB purchased a new position in shares of Salesforce during the 1st quarter worth approximately $874,748,000. Veritas Asset Management LLP purchased a new stake in Salesforce in the third quarter valued at approximately $733,805,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Salesforce by 48.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, COO Brian Millham sold 60,522 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares in the company, valued at $202,702.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,373 shares of company stock valued at $41,250,680. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Up 0.2 %

CRM opened at $341.72 on Thursday. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The firm has a market cap of $326.68 billion, a PE ratio of 59.43, a price-to-earnings-growth ratio of 3.09 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. The firm’s fifty day moving average is $283.28 and its two-hundred day moving average 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 (EPS) 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 company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company earned $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business 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. 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 27.83%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. UBS Group boosted their price target on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and raised their price target for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday. Stifel Nicolaus increased their price target on Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Nine 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $318.23.

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.