Salesforce, Inc. (NYSE:CRM) Shares Sold by Insight Advisors LLC PA

Insight Advisors LLC PA trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 44.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,220 shares of the CRM provider’s stock after selling 982 shares during the period. Insight Advisors LLC PA’s holdings in Salesforce were worth $314,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Salesforce in the 4th quarter valued at $2,762,331,000. Capital International Investors boosted its position in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after buying an additional 5,935,973 shares during the period. Capital Research Global Investors grew its stake in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares in the last quarter. GQG Partners LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at about $910,220,000. Finally, Swedbank AB acquired a new position in Salesforce during the 1st quarter worth approximately $874,748,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of NYSE:CRM traded up $3.33 on Tuesday, reaching $254.64. 2,108,978 shares of the company traded hands, compared to its average volume of 6,647,653. The stock has a market capitalization of $246.75 billion, a PE ratio of 45.82, a P/E/G ratio of 2.22 and a beta of 1.29. 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 company’s 50 day moving average is $247.88 and its 200-day moving average is $273.58. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating the consensus estimate of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. Salesforce’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.15 earnings per share. As a group, analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Piper Sandler reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Salesforce in a research report on Friday, July 12th. JPMorgan Chase & Co. cut their price objective on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. Barclays lowered their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Oppenheimer cut their price target on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Truist Financial restated a “buy” rating and set a $300.00 price objective (down previously from $360.00) on shares of Salesforce in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Insider Activity

In related news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Srinivas Tallapragada sold 942 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the sale, the insider now directly owns 22,154 shares of the company’s stock, valued at $5,368,357.28. The disclosure for this sale can be found here. Insiders have sold 215,042 shares of company stock worth $56,019,545 over the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce 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.