Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. raised its position in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 506,776 shares of the CRM provider’s stock after purchasing an additional 24,982 shares during the period. Salesforce accounts for about 0.5% of Asset Management One Co. Ltd.’s investment portfolio, making the stock its 29th largest position. Asset Management One Co. Ltd. owned approximately 0.05% of Salesforce worth $134,585,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its stake in shares of 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 raised its stake in shares of 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 raised its stake in shares of 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 position in shares of Salesforce in the 4th quarter valued at approximately $1,420,381,000. Finally, Moneta Group Investment Advisors LLC raised its stake in shares of 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 owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the company. Wedbush raised their price objective on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Truist Financial reaffirmed a “buy” rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a research report on Thursday, February 29th. KeyCorp initiated coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Bank of America lifted their price target on Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $304.97.
Read Our Latest Stock Report on Salesforce
Insider Buying and Selling at Salesforce
In other Salesforce news, CAO Sundeep G. Reddy sold 216 shares of Salesforce stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the completion of the transaction, the chief accounting officer now owns 2,869 shares in the company, valued at approximately $799,618.99. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $258.59, for a total transaction of $3,878,850.00. Following the completion of the sale, the chief executive officer now owns 13,866,166 shares in the company, valued at $3,585,651,865.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 216 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $278.71, for a total value of $60,201.36. Following the sale, the chief accounting officer now owns 2,869 shares of the company’s stock, valued at approximately $799,618.99. The disclosure for this sale can be found here. In the last quarter, insiders sold 913,175 shares of company stock worth $262,199,146. 3.70% of the stock is currently owned by insiders.
Salesforce Price Performance
CRM stock traded down $10.60 during trading on Thursday, hitting $294.14. The company had a trading volume of 8,339,822 shares, compared to its average volume of 5,703,400. The company has a fifty day moving average price of $296.66 and a two-hundred day moving average price of $255.00. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.14. The company has a market cap of $285.32 billion, a P/E ratio of 71.68, a P/E/G ratio of 2.34 and a beta of 1.28. Salesforce, Inc. has a fifty-two week low of $187.31 and a fifty-two week high of $318.71.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the previous year, the company posted $1.01 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.
Salesforce Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, March 13th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s payout ratio is 9.52%.
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.
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