Northstar Group Inc. Has $1.86 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Northstar Group Inc. reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 1.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,776 shares of the CRM provider’s stock after selling 75 shares during the quarter. Northstar Group Inc.’s holdings in Salesforce were worth $1,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Prentice Wealth Management LLC increased its holdings in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock worth $686,000 after purchasing an additional 37 shares in the last quarter. Fox Hill Wealth Management raised its position in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares in the last quarter. Fulton Bank N.A. boosted its holdings in Salesforce by 0.4% during the 3rd quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock worth $2,537,000 after acquiring an additional 38 shares during the last quarter. Finally, Blue Barn Wealth LLC grew its stake in shares of Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after acquiring an additional 39 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Phillip Securities reissued an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Citigroup boosted their target price on Salesforce from $260.00 to $290.00 and gave the stock a “neutral” rating in a research note on Monday, August 26th. Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday, August 29th. Bank of America reissued a “buy” rating and issued a $325.00 price objective on shares of Salesforce in a research report on Friday, September 6th. Finally, BNP Paribas raised Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $310.74.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $0.55 during mid-day trading on Thursday, reaching $287.37. 461,437 shares of the company traded hands, compared to its average volume of 6,487,602. 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 52 week low of $193.68 and a 52 week high of $318.71. The firm has a market cap of $278.46 billion, a PE ratio of 51.78, a PEG ratio of 2.39 and a beta of 1.30. The company’s 50 day moving average price is $260.30 and its 200-day moving average price is $264.11.

Salesforce (NYSE:CRM) last posted its quarterly 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. The business had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 EPS. On average, equities analysts expect that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insiders Place Their Bets

In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s 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 transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $288.42, for a total value of $1,211,364.00. Following the completion of the sale, the insider now owns 118,514 shares of the company’s stock, valued at $34,181,807.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 80,612 shares of company stock valued at $21,283,087 in the last three months. Corporate insiders own 3.20% of the company’s stock.

About Salesforce

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.