Salesforce, Inc. (NYSE:CRM) Shares Sold by Graphene Investments SAS

Graphene Investments SAS lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 22.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 8,800 shares of the CRM provider’s stock after selling 2,600 shares during the quarter. Salesforce makes up about 2.0% of Graphene Investments SAS’s portfolio, making the stock its 26th biggest holding. Graphene Investments SAS’s holdings in Salesforce were worth $2,942,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in CRM. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth about $27,000. Godsey & Gibb Inc. raised its holdings 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 acquiring an additional 90 shares during the period. Annapolis Financial Services LLC lifted 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 valued at $38,000 after acquiring an additional 80 shares in the last quarter. FSA Wealth Management LLC acquired a new position in Salesforce in the 3rd quarter worth approximately $53,000. Finally, Friedenthal Financial purchased a new position in Salesforce during the 4th quarter worth approximately $55,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at approximately $15,705,195. This trade represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock valued at $384,366,700 in the last quarter. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $450.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Northland Securities reaffirmed an “outperform” rating and set a $440.00 price objective (up from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. BMO Capital Markets lifted their target price on shares of Salesforce from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Scotiabank increased their target price on shares of Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research 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 given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Stock Down 5.0 %

Shares of NYSE CRM opened at $330.52 on Friday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The company has a market cap of $316.31 billion, a P/E ratio of 54.36, a P/E/G ratio of 3.09 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. The business has a 50-day simple moving average of $339.04 and a two-hundred day simple moving average of $299.65.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. Research analysts anticipate 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. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. Salesforce’s dividend payout ratio is presently 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.