Salesforce, Inc. (NYSE:CRM) Shares Sold by KRS Capital Management LLC

KRS Capital Management LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 5,361 shares of the CRM provider’s stock after selling 59 shares during the quarter. Salesforce comprises approximately 1.3% of KRS Capital Management LLC’s investment portfolio, making the stock its 13th largest position. KRS Capital Management LLC’s holdings in Salesforce were worth $1,792,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Veritas Asset Management LLP acquired a new stake in shares of Salesforce in the third quarter valued at $733,805,000. KBC Group NV raised its position in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after acquiring an additional 1,032,068 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Salesforce by 23,664.2% in the 3rd quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after acquiring an additional 998,628 shares during the last quarter. Farallon Capital Management LLC grew its stake in shares of Salesforce by 51.0% in the 2nd quarter. Farallon Capital Management LLC now owns 2,946,838 shares of the CRM provider’s stock worth $757,632,000 after purchasing an additional 994,670 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its stake in Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after purchasing an additional 877,495 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CRM. UBS Group boosted their target price on Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Loop Capital boosted their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. DA Davidson boosted their price target on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Finally, The Goldman Sachs Group upped their price objective on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $377.63.

Salesforce Trading Up 1.5 %

Shares of NYSE CRM traded up $4.77 during mid-day trading on Friday, hitting $324.77. The company’s stock had a trading volume of 6,283,814 shares, compared to its average volume of 4,604,853. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $310.81 billion, a price-to-earnings ratio of 53.42, a price-to-earnings-growth ratio of 2.87 and a beta of 1.30. The company’s fifty day simple moving average is $337.25 and its 200-day simple moving average is $291.08. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00.

Salesforce (NYSE:CRM) last released its earnings results 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 business had revenue of $9.44 billion for 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%. Salesforce’s revenue was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.62 EPS. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s payout ratio is 26.32%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $329.88, for a total value of $2,052,183.48. Following the completion of the transaction, the chief financial officer now owns 45,861 shares of the company’s stock, valued at $15,128,626.68. This represents a 11.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,183,838 shares of company stock worth $405,595,158. 3.20% of the stock is currently owned by company insiders.

Salesforce Company 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.