Chevy Chase Trust Holdings LLC Has $142.83 Million Stake in Salesforce, Inc. (NYSE:CRM)

Chevy Chase Trust Holdings LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 521,843 shares of the CRM provider’s stock after selling 10,277 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Salesforce were worth $142,834,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Piscataqua Savings Bank grew its stake in Salesforce by 2,400.0% during the second 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 period. Infrastructure Capital Advisors LLC bought a new position in shares of Salesforce during the 3rd quarter worth approximately $27,000. Clear Investment Research LLC grew its position in shares of 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 buying an additional 98 shares during the period. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce during the 2nd quarter valued at $33,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM opened at $329.99 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $315.47 billion, a PE ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The company has a 50-day moving average price of $302.12 and a two-hundred day moving average price of $270.49.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is presently 27.83%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $30,223,020.24. This trade represents a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,510 shares of company stock worth $42,475,538 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Robert W. Baird boosted their target price on Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Oppenheimer reissued an “outperform” rating and issued a $385.00 price objective (up previously from $330.00) on shares of Salesforce in a research note on Thursday, November 21st. Piper Sandler upped their target price on Salesforce from $325.00 to $395.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, TD Cowen boosted their price target on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $343.89.

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.