Salesforce, Inc. (NYSE:CRM) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lowered its position in Salesforce, Inc. (NYSE:CRM) by 3.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,022 shares of the CRM provider’s stock after selling 1,184 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Salesforce were worth $8,217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC increased its position in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after purchasing an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its position in shares of Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after purchasing an additional 1,834 shares during the last quarter. AIA Group Ltd increased its position in shares of Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $6,577,000 after purchasing an additional 1,962 shares during the last quarter. Transamerica Financial Advisors Inc. bought a new stake in shares of Salesforce during the 3rd quarter valued at about $3,672,000. Finally, Harvest Portfolios Group Inc. grew its position in shares of Salesforce by 13.6% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after buying an additional 10,656 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 3,528 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total value of $884,081.52. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $29,464,622.79. This represents a 2.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the 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 transaction, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. This represents a 75.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,510 shares of company stock worth $42,475,538 in the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CRM shares. Canaccord Genuity Group boosted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Wells Fargo & Company boosted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Phillip Securities reissued an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $341.89.

Salesforce Stock Down 0.0 %

Salesforce stock opened at $329.99 on Monday. The firm has a market cap of $315.47 billion, a PE ratio of 57.39, a P/E/G ratio of 2.99 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 50 day moving average price is $302.12 and its two-hundred day moving average price is $270.49. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid 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 0.48%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

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.