Meitav Investment House Ltd. Has $43.44 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Meitav Investment House Ltd. reduced its holdings in Salesforce, Inc. (NYSE:CRM) by 30.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 129,932 shares of the CRM provider’s stock after selling 55,585 shares during the quarter. Meitav Investment House Ltd.’s holdings in Salesforce were worth $43,442,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Handelsbanken Fonder AB increased its holdings in Salesforce by 6.8% during the 4th quarter. Handelsbanken Fonder AB now owns 355,126 shares of the CRM provider’s stock worth $118,729,000 after purchasing an additional 22,671 shares in the last quarter. Wealth Alliance lifted its stake in Salesforce by 2.6% in the 4th quarter. Wealth Alliance now owns 7,814 shares of the CRM provider’s stock valued at $2,613,000 after acquiring an additional 198 shares in the last quarter. Sunpointe LLC boosted its position in Salesforce by 2.5% during the 4th quarter. Sunpointe LLC now owns 1,738 shares of the CRM provider’s stock worth $582,000 after acquiring an additional 43 shares during the last quarter. LMG Wealth Partners LLC grew its stake in shares of Salesforce by 6.7% during the 4th quarter. LMG Wealth Partners LLC now owns 5,861 shares of the CRM provider’s stock worth $1,960,000 after acquiring an additional 368 shares in the last quarter. Finally, Corps Capital Advisors LLC acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $553,000. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the transaction, the chief accounting officer now directly owns 7,057 shares in the company, valued at approximately $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the sale, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,117,641 shares of company stock valued at $386,408,308 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRM. DA Davidson raised their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Bank of America raised their price target on Salesforce from $390.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, UBS Group boosted their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $376.84.

Salesforce Trading Down 1.5 %

Shares of Salesforce stock opened at $324.19 on Thursday. The firm’s 50-day moving average price is $335.02 and its two-hundred day moving average price is $304.66. The company has a market capitalization of $310.25 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 2.62 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the business earned $1.62 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. On average, analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

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.