Salesforce, Inc. (NYSE:CRM) Shares Sold by Artemis Investment Management LLP
Artemis Investment Management LLP trimmed its position in Salesforce, Inc. (NYSE:CRM – Free Report) by 41.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,498 shares of the CRM provider’s stock after selling 23,880 shares during the quarter. Artemis Investment Management LLP’s holdings in Salesforce were worth $8,815,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp lifted its stake in Salesforce by 0.3% in the 2nd quarter. State Street Corp now owns 45,653,307 shares of the CRM provider’s stock valued at $9,644,718,000 after acquiring an additional 143,962 shares in the last quarter. Morgan Stanley lifted its stake in Salesforce by 0.8% in the 4th quarter. Morgan Stanley now owns 19,003,836 shares of the CRM provider’s stock valued at $2,519,719,000 after acquiring an additional 149,012 shares in the last quarter. Northern Trust Corp lifted its stake in Salesforce by 1.1% in the 3rd quarter. Northern Trust Corp now owns 11,195,108 shares of the CRM provider’s stock valued at $2,270,144,000 after acquiring an additional 121,436 shares in the last quarter. Norges Bank bought a new stake in Salesforce in the 4th quarter valued at approximately $1,420,381,000. Finally, Moneta Group Investment Advisors LLC lifted its stake in Salesforce by 125,717.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after acquiring an additional 10,252,257 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.
Salesforce Stock Performance
Salesforce stock traded down $0.23 during mid-day trading on Tuesday, reaching $305.83. 3,889,161 shares of the company’s stock were exchanged, compared to its average volume of 5,811,988. The business’s fifty day simple moving average is $292.17 and its 200 day simple moving average is $250.60. The firm has a market capitalization of $296.66 billion, a PE ratio of 72.98, a P/E/G ratio of 2.37 and a beta of 1.28. Salesforce, Inc. has a one year low of $187.31 and a one year high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last posted its earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the business earned $1.01 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. On average, sell-side analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current year.
Salesforce Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend is Wednesday, March 13th. Salesforce’s payout ratio is 9.52%.
Insiders Place Their Bets
In related news, COO Brian Millham sold 14,516 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total value of $4,490,089.12. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, COO Brian Millham sold 14,516 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $309.32, for a total transaction of $4,490,089.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Amy E. Weaver sold 7,075 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $309.32, for a total value of $2,188,439.00. Following the completion of the transaction, the chief financial officer now directly owns 38,483 shares in the company, valued at $11,903,561.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,141,620 shares of company stock valued at $319,126,842. Corporate insiders own 3.70% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Raymond James boosted their target price on Salesforce from $280.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 30th. Evercore ISI upped their price objective on Salesforce from $290.00 to $330.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Morgan Stanley upgraded Salesforce from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $290.00 to $350.00 in a research note on Thursday, December 21st. KeyCorp started coverage on Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Finally, Wells Fargo & Company boosted their target price on Salesforce from $280.00 to $290.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $304.32.
Read Our Latest Stock Analysis on Salesforce
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.
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