Sustainable Insight Capital Management LLC Grows Stake in Salesforce, Inc. (NYSE:CRM)

Sustainable Insight Capital Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 66.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,499 shares of the CRM provider’s stock after buying an additional 600 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Salesforce were worth $410,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. GSG Advisors LLC raised its holdings in shares of Salesforce by 8.7% during the third quarter. GSG Advisors LLC now owns 1,200 shares of the CRM provider’s stock valued at $325,000 after acquiring an additional 96 shares during the last quarter. Essex Savings Bank raised its stake in Salesforce by 5.2% in the 3rd quarter. Essex Savings Bank now owns 4,551 shares of the CRM provider’s stock valued at $1,246,000 after purchasing an additional 225 shares during the last quarter. Cypress Point Wealth Management LLC lifted its holdings in Salesforce by 4.6% in the 3rd quarter. Cypress Point Wealth Management LLC now owns 1,963 shares of the CRM provider’s stock valued at $537,000 after purchasing an additional 87 shares in the last quarter. TCTC Holdings LLC boosted its stake in Salesforce by 0.4% during the 3rd quarter. TCTC Holdings LLC now owns 102,350 shares of the CRM provider’s stock worth $28,014,000 after purchasing an additional 397 shares during the last quarter. Finally, Carmel Capital Partners LLC purchased a new stake in shares of Salesforce during the third quarter worth $1,133,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. 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 link. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $290.23, for a total value of $145,115.00. Following the completion of the transaction, the chief accounting officer now owns 6,506 shares in the company, valued at approximately $1,888,236.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 148,573 shares of company stock worth $42,319,874 over the last 90 days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Bank of America restated a “buy” rating and set a $325.00 target price on shares of Salesforce in a report on Friday, September 6th. JPMorgan Chase & Co. increased their price target on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $313.37.

Check Out Our Latest Stock Report on CRM

Salesforce Stock Performance

NYSE:CRM opened at $321.95 on Friday. Salesforce, Inc. has a 52 week low of $208.84 and a 52 week high of $322.81. The company has a fifty day simple moving average of $277.76 and a two-hundred day simple moving average of $264.52. 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 company has a market cap of $307.78 billion, a price-to-earnings ratio of 55.99, a price-to-earnings-growth ratio of 2.78 and a beta of 1.29.

Salesforce (NYSE:CRMGet Free Report) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 EPS. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.50%. Salesforce’s dividend payout ratio (DPR) is 27.83%.

About Salesforce

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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