Sustainable Insight Capital Management LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

Sustainable Insight Capital Management LLC boosted its holdings in Salesforce, Inc. (NYSE:CRM) by 127.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,411 shares of the CRM provider’s stock after acquiring an additional 1,912 shares during the quarter. Sustainable Insight Capital Management LLC’s holdings in Salesforce were worth $1,140,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce during the second quarter worth about $33,000. Godsey & Gibb Inc. increased its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC boosted its position in shares of Salesforce by 135.6% in the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC purchased a new stake in shares of Salesforce in the third quarter worth $53,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. BMO Capital Markets upped their target price on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Loop Capital upped their price target on Salesforce from $340.00 to $360.00 and gave the stock a “hold” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their target price on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler reissued an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Trading Up 0.6 %

Shares of CRM stock opened at $334.75 on Friday. The stock has a 50-day simple moving average of $336.50 and a 200 day simple moving average of $293.20. The stock has a market capitalization of $320.36 billion, a P/E ratio of 55.06, a P/E/G ratio of 2.95 and a beta of 1.30. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. 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 (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm 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 company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 EPS. On average, sell-side analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Buying and Selling

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $298.04, for a total value of $1,251,768.00. Following the sale, the insider now owns 119,402 shares of the company’s stock, valued at approximately $35,586,572.08. This represents a 3.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value 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 $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,173,891 shares of company stock valued at $402,840,388. Insiders own 3.20% of the company’s stock.

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.