Forsta AP Fonden Sells 3,700 Shares of Salesforce, Inc. (NYSE:CRM)

Forsta AP Fonden lowered its position in Salesforce, Inc. (NYSE:CRM) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 270,747 shares of the CRM provider’s stock after selling 3,700 shares during the quarter. Salesforce comprises 0.6% of Forsta AP Fonden’s investment portfolio, making the stock its 23rd largest holding. Forsta AP Fonden’s holdings in Salesforce were worth $90,519,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. EP Wealth Advisors LLC grew its stake in Salesforce by 13.5% in the 2nd quarter. EP Wealth Advisors LLC now owns 30,031 shares of the CRM provider’s stock valued at $7,721,000 after buying an additional 3,580 shares in the last quarter. Truist Financial Corp grew its position in shares of Salesforce by 0.7% in the second quarter. Truist Financial Corp now owns 410,251 shares of the CRM provider’s stock valued at $105,476,000 after purchasing an additional 2,897 shares in the last quarter. Advisory Alpha LLC raised its stake in shares of Salesforce by 32.1% during the 2nd quarter. Advisory Alpha LLC now owns 1,844 shares of the CRM provider’s stock valued at $474,000 after purchasing an additional 448 shares during the period. Ted Buchan & Co purchased a new stake in Salesforce during the 2nd quarter worth about $871,000. Finally, Granite Bay Wealth Management LLC bought a new position in Salesforce in the 2nd quarter worth about $8,041,000. 80.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the transaction, the chief executive officer now owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the sale, the chief financial officer now owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. This represents a 10.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,109,169 shares of company stock worth $383,432,020. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 3.7 %

Shares of NYSE:CRM opened at $360.00 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The firm has a market capitalization of $344.52 billion, a P/E ratio of 59.21, a P/E/G ratio of 3.01 and a beta of 1.30. The stock has a 50 day moving average price of $337.96 and a 200-day moving average price of $296.02.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter last year, the company posted $1.62 EPS. Salesforce’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Analysts Set New Price Targets

CRM has been the topic of several analyst reports. JMP Securities reiterated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research report on Wednesday, December 18th. Northland Capmk raised shares of Salesforce from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group raised their price target on shares of Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Citigroup upped their price target on shares of Salesforce from $368.00 to $390.00 and gave the stock a “neutral” rating in a report on Wednesday, December 4th. Finally, Cfra set a $343.00 price objective on Salesforce in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $377.63.

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.