UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 423,869 Shares of Salesforce, Inc. (NYSE:CRM)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 5.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 8,055,687 shares of the CRM provider’s stock after selling 423,869 shares during the period. Salesforce accounts for approximately 0.6% of UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings, making the stock its 24th largest holding. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Salesforce were worth $2,204,922,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Public Sector Pension Investment Board grew its position in Salesforce by 1.0% during the third quarter. Public Sector Pension Investment Board now owns 461,207 shares of the CRM provider’s stock valued at $126,237,000 after acquiring an additional 4,700 shares during the last quarter. MIG Capital LLC purchased a new stake in shares of Salesforce in the 3rd quarter valued at $18,284,000. Fiduciary Trust Co grew its holdings in shares of Salesforce by 7.6% during the 3rd quarter. Fiduciary Trust Co now owns 43,565 shares of the CRM provider’s stock valued at $11,924,000 after purchasing an additional 3,072 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Salesforce by 5.0% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 554,880 shares of the CRM provider’s stock worth $151,876,000 after purchasing an additional 26,486 shares during the period. Finally, MayTech Global Investments LLC lifted its stake in Salesforce by 18.4% in the third quarter. MayTech Global Investments LLC now owns 121,831 shares of the CRM provider’s stock worth $33,346,000 after purchasing an additional 18,961 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CRM shares. Truist Financial increased their target price on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley increased their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. BNP Paribas raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Scotiabank started coverage on shares of Salesforce in a report on Monday, November 18th. They set a “sector outperform” rating and a $425.00 price target for the company. Finally, BMO Capital Markets raised their price target on shares of Salesforce from $305.00 to $385.00 and gave the stock an “outperform” rating in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Salesforce Stock Down 3.8 %

CRM stock opened at $330.01 on Thursday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86. The company has a market cap of $315.49 billion, a price-to-earnings ratio of 57.39, a P/E/G ratio of 3.07 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business’s 50-day moving average is $299.57 and its two-hundred day moving average is $269.87.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business posted $1.63 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is 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.