Salesforce, Inc. (NYSE:CRM) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System reduced its position in shares of Salesforce, Inc. (NYSE:CRM) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 938,233 shares of the CRM provider’s stock after selling 41,778 shares during the period. Salesforce comprises 0.5% of New York State Teachers Retirement System’s portfolio, making the stock its 25th largest position. New York State Teachers Retirement System owned 0.10% of Salesforce worth $256,804,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares in the last quarter. Capital International Investors lifted its holdings in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares during the period. Legal & General Group Plc boosted its stake in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in Salesforce by 48.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

CRM has been the subject of a number of recent research reports. BNP Paribas upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Royal Bank of Canada reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Thursday, September 19th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Wednesday, August 28th. Northland Securities raised shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $313.37.

Insider Activity at Salesforce

In other news, insider Parker Harris sold 1,400 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $251.62, for a total transaction of $352,268.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,585,731.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Parker Harris sold 1,400 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $251.62, for a total value of $352,268.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,585,731.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Brian Millham sold 4,056 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,581 shares of company stock valued at $22,616,017. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM stock traded up $0.11 on Wednesday, hitting $299.00. 347,666 shares of the stock were exchanged, compared to its average volume of 6,284,689. Salesforce, Inc. has a one year low of $198.66 and a one year high of $318.71. The firm’s 50 day moving average is $271.04 and its two-hundred day moving average is $262.78. The firm has a market capitalization of $285.84 billion, a PE ratio of 51.99, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.63 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.54%. Salesforce’s payout ratio is currently 27.83%.

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.