Tredje AP fonden Has $130.66 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

Tredje AP fonden increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 22.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 508,221 shares of the CRM provider’s stock after buying an additional 92,609 shares during the quarter. Salesforce accounts for approximately 1.3% of Tredje AP fonden’s holdings, making the stock its 11th largest holding. Tredje AP fonden owned 0.05% of Salesforce worth $130,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Spartan Planning & Wealth Management increased its position in shares of Salesforce by 66.3% during the fourth quarter. Spartan Planning & Wealth Management now owns 1,567 shares of the CRM provider’s stock worth $412,000 after acquiring an additional 625 shares in the last quarter. Parnassus Investments LLC increased its holdings in Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after purchasing an additional 18,397 shares in the last quarter. TD Asset Management Inc raised its stake in shares of Salesforce by 32.6% in the 4th quarter. TD Asset Management Inc now owns 789,525 shares of the CRM provider’s stock valued at $207,756,000 after purchasing an additional 194,224 shares during the period. Chicago Partners Investment Group LLC lifted its holdings in shares of Salesforce by 1.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 7,160 shares of the CRM provider’s stock valued at $1,983,000 after purchasing an additional 95 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Salesforce during the first quarter worth about $2,178,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Salesforce news, Director Oscar Munoz acquired 2,051 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was acquired at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the transaction, the director now directly owns 7,026 shares in the company, valued at $1,712,165.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 62,376 shares of company stock worth $15,878,005. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Down 0.6 %

NYSE CRM opened at $255.32 on Wednesday. The company has a market cap of $247.41 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50 day moving average of $253.61 and a 200-day moving average of $267.11.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the company posted $1.63 EPS. The company’s revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts expect 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 will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Analyst Ratings Changes

Several equities research analysts have commented on CRM shares. Canaccord Genuity Group boosted their target price on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a research report on Friday, September 6th. Phillip Securities reiterated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a research note on Friday, August 30th. JMP Securities reissued a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a research note on Wednesday, August 28th. Finally, Raymond James upped their price target on shares of Salesforce from $325.00 to $350.00 and gave the stock a “strong-buy” rating in a research report on Thursday, August 29th. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $305.55.

Salesforce Company 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.