Congress Park Capital LLC reduced its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 4.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,727 shares of the CRM provider’s stock after selling 388 shares during the period. Congress Park Capital LLC’s holdings in Salesforce were worth $2,389,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CRM. Ruedi Wealth Management Inc. lifted its stake in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 56 shares in the last quarter. Piscataqua Savings Bank lifted its position in 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 acquiring an additional 96 shares in the last quarter. Clear Investment Research LLC lifted its position in Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares in the last quarter. Red Tortoise LLC acquired a new position in Salesforce during the 1st quarter worth approximately $33,000. Finally, Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during the 2nd 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. 80.43% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Salesforce
In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total transaction of $1,070,580.00. Following the completion of the sale, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at approximately $29,745,045.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock valued at $21,283,087 over the last three months. Company insiders own 3.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on CRM
Salesforce Price Performance
Shares of Salesforce stock traded down $1.56 during trading on Friday, hitting $288.61. The stock had a trading volume of 871,879 shares, compared to its average volume of 6,477,433. 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 firm has a market cap of $275.91 billion, a P/E ratio of 50.14, a PEG ratio of 2.61 and a beta of 1.30. The business has a fifty day moving average of $261.04 and a two-hundred day moving average of $264.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.
Salesforce (NYSE:CRM – Get Free Report) last announced its quarterly earnings data 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. 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%. The company’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.63 earnings per share. On average, sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 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.
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