Salesforce, Inc. (NYSE:CRM) Shares Sold by Householder Group Estate & Retirement Specialist LLC

Householder Group Estate & Retirement Specialist LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 74.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 118 shares of the CRM provider’s stock after selling 338 shares during the quarter. Householder Group Estate & Retirement Specialist LLC’s holdings in Salesforce were worth $39,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Veritas Asset Management LLP purchased a new position in shares of Salesforce in the 3rd quarter valued at $733,805,000. KBC Group NV raised its stake in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after acquiring an additional 1,032,068 shares during the period. International Assets Investment Management LLC raised its stake in shares of Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares during the period. Farallon Capital Management LLC raised its stake in shares of Salesforce by 51.0% in the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock valued at $757,632,000 after acquiring an additional 994,670 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director G Mason Morfit sold 722,300 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,183,838 shares of company stock valued at $405,595,158 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM opened at $324.77 on Friday. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a fifty day moving average of $337.31 and a 200-day moving average of $291.56.

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

Salesforce Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on CRM shares. Piper Sandler reissued an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus lifted their price objective on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Barclays lifted their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Loop Capital lifted their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada lifted their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus target price of $377.63.

About Salesforce

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.