Salesforce, Inc. (NYSE:CRM) Stock Holdings Reduced by Bridge Creek Capital Management LLC

Bridge Creek Capital Management LLC reduced its position in Salesforce, Inc. (NYSE:CRMFree Report) by 1.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,094 shares of the CRM provider’s stock after selling 361 shares during the quarter. Salesforce makes up about 2.1% of Bridge Creek Capital Management LLC’s holdings, making the stock its 9th largest position. Bridge Creek Capital Management LLC’s holdings in Salesforce were worth $6,718,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CRM. State Street Corp boosted its stake in Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after purchasing an additional 864,193 shares during the period. Geode Capital Management LLC boosted its position in shares of Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after acquiring an additional 257,501 shares during the period. Fisher Asset Management LLC increased its holdings in Salesforce by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares during the period. Legal & General Group Plc lifted its stake in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.2 %

CRM stock traded up $0.49 during midday trading on Monday, hitting $318.34. The stock had a trading volume of 2,177,881 shares, compared to its average volume of 4,533,388. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $304.65 billion, a price-to-earnings ratio of 52.36, a price-to-earnings-growth ratio of 3.21 and a beta of 1.30. The business has a 50-day moving average of $335.82 and a two-hundred day moving average of $289.73. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the previous year, the business earned $1.62 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.50%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,181,817 shares of company stock worth $404,760,429 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley increased their price objective on Salesforce from $330.00 to $405.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Stifel Nicolaus raised their price target on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Bank of America lifted their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Wells Fargo & Company raised their target price on shares of Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Finally, TD Cowen boosted their price target on shares of Salesforce from $290.00 to $340.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $376.05.

View Our Latest Research Report on Salesforce

Salesforce Company Profile

(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

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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