Salesforce, Inc. (NYSE:CRM) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp lowered its stake in Salesforce, Inc. (NYSE:CRMFree Report) by 4.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 124,038 shares of the CRM provider’s stock after selling 5,959 shares during the period. Alberta Investment Management Corp’s holdings in Salesforce were worth $25,152,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Osterweis Capital Management Inc. lifted its position in shares of Salesforce by 463.1% in the second quarter. Osterweis Capital Management Inc. now owns 3,283 shares of the CRM provider’s stock worth $694,000 after buying an additional 2,700 shares during the last quarter. Pointe Capital Management LLC lifted its position in shares of Salesforce by 370.0% in the second quarter. Pointe Capital Management LLC now owns 1,551 shares of the CRM provider’s stock worth $328,000 after buying an additional 1,221 shares during the last quarter. Walkner Condon Financial Advisors LLC lifted its position in shares of Salesforce by 2.9% in the third quarter. Walkner Condon Financial Advisors LLC now owns 2,633 shares of the CRM provider’s stock worth $534,000 after buying an additional 74 shares during the last quarter. Bank of Hawaii lifted its position in shares of Salesforce by 89.2% in the second quarter. Bank of Hawaii now owns 5,282 shares of the CRM provider’s stock worth $1,116,000 after buying an additional 2,490 shares during the last quarter. Finally, Trivest Advisors Ltd increased its stake in shares of Salesforce by 288.6% in the second quarter. Trivest Advisors Ltd now owns 952,000 shares of the CRM provider’s stock worth $201,120,000 after purchasing an additional 707,000 shares during the period. Institutional investors and hedge funds own 77.52% of the company’s stock.

Salesforce Trading Up 2.6 %

NYSE:CRM traded up $8.06 during trading hours on Friday, hitting $316.88. 9,299,958 shares of the stock were exchanged, compared to its average volume of 5,705,387. The company’s 50 day moving average is $278.51 and its two-hundred day moving average is $239.75. Salesforce, Inc. has a twelve month low of $170.00 and a twelve month high of $318.72. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $306.74 billion, a P/E ratio of 73.52, a price-to-earnings-growth ratio of 1.93 and a beta of 1.28.

Salesforce (NYSE:CRMGet Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.72 by $0.06. Salesforce had a return on equity of 10.50% and a net margin of 11.87%. The firm had revenue of $9.29 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the business earned $1.01 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.23 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 11th. Shareholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, March 13th.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $253.47, for a total transaction of $2,534,700.00. Following the transaction, the insider now owns 58,930 shares of the company’s stock, valued at approximately $14,936,987.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $253.47, for a total transaction of $2,534,700.00. Following the completion of the sale, the insider now owns 58,930 shares in the company, valued at approximately $14,936,987.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $251.38, for a total transaction of $3,770,700.00. Following the sale, the chief executive officer now owns 14,711,166 shares of the company’s stock, valued at approximately $3,698,092,909.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,194,112 shares of company stock valued at $326,290,142. 3.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CRM. Piper Sandler reiterated a “neutral” rating and issued a $285.00 price objective on shares of Salesforce in a research note on Wednesday. Mizuho reiterated a “buy” rating and issued a $345.00 price objective (up from $325.00) on shares of Salesforce in a research note on Thursday. Citigroup lifted their price objective on Salesforce from $265.00 to $325.00 and gave the stock a “neutral” rating in a research note on Monday. BMO Capital Markets boosted their price target on Salesforce from $325.00 to $335.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Wedbush boosted their price target on Salesforce from $280.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $291.86.

Get Our Latest Analysis on Salesforce

Salesforce Company Profile

(Free Report)

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 relationship intelligence, and deliver quotes, contracts, and invoices; and service that enables companies to deliver trusted and highly personalized customer service and support at scale.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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