Riverbridge Partners LLC lowered its position in Salesforce Inc. (NYSE:CRM – Free Report) by 92.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,239 shares of the CRM provider’s stock after selling 93,966 shares during the quarter. Riverbridge Partners LLC’s holdings in Salesforce were worth $1,662,000 at the end of the most recent reporting period.
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A number of other large investors have also recently made changes to their positions in CRM. Silver Grove Financial Group Inc. raised its holdings in shares of Salesforce by 11.0% in the third quarter. Silver Grove Financial Group Inc. now owns 687 shares of the CRM provider’s stock worth $158,000 after buying an additional 68 shares during the period. Northbridge Financial Group LLC boosted its holdings in Salesforce by 0.7% during the 3rd quarter. Northbridge Financial Group LLC now owns 7,341 shares of the CRM provider’s stock valued at $1,652,000 after acquiring an additional 54 shares during the period. Knights of Columbus Asset Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at $1,829,000. Confluence Wealth Services Inc. boosted its holdings in Salesforce by 3.6% during the 3rd quarter. Confluence Wealth Services Inc. now owns 4,493 shares of the CRM provider’s stock valued at $1,031,000 after acquiring an additional 156 shares during the period. Finally, AMG National Trust Bank grew its position in Salesforce by 3.8% in the 3rd quarter. AMG National Trust Bank now owns 13,683 shares of the CRM provider’s stock valued at $3,141,000 after acquiring an additional 496 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Salesforce News Roundup
Investors following CRM have been watching these news items:
- Positive Sentiment:Salesforce’s free cash flow supports substantial share buybacks and dividends, potentially sustaining shareholder returns. However, slower growth projections raise questions about how durable those payouts will be. <a href="https://finance.yahoo.com/markets/stocks/articles/crms-cash-flow-strength-sustain-160300776.html” rel=”nofollow noopener” target=”_blank”>CRM’s Cash Flow Strength: Can It Sustain Big Shareholder Returns?
- Neutral Sentiment:Coverage highlighted Salesforce’s value-stock characteristics and argued its shares may be undervalued, while noting that leverage concerns persist. Salesforce Stock Looks Undervalued Even As Leverage Concerns Linger
- Negative Sentiment:S&P cut Salesforce’s credit rating to A, citing concerns linked to deals and the company’s planned $25 billion buyback. The downgrade spotlights potential balance-sheet and capital-allocation risks. Salesforce Sinks as S&P Cuts Its Rating to A on Deals and a $25 Billion Buyback
Salesforce Trading Up 1.8%
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CRM opened at $217.35 on Thursday. The firm has a market cap of $178.88 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.97 and a beta of 1.24. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 1.02. Salesforce Inc. has a 12 month low of $146.32 and a 12 month high of $269.11. The stock has a fifty day moving average price of $236.99 and a 200-day moving average price of $198.48.
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