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

Yousif Capital Management LLC lowered its position in shares of Salesforce, Inc. (NYSE:CRM) by 6.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 117,677 shares of the CRM provider’s stock after selling 8,398 shares during the quarter. Salesforce comprises about 0.4% of Yousif Capital Management LLC’s investment portfolio, making the stock its 27th largest position. Yousif Capital Management LLC’s holdings in Salesforce were worth $39,343,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp raised its stake in Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after buying an additional 864,193 shares in the last quarter. Geode Capital Management LLC raised its stake in Salesforce by 1.3% during the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock valued at $5,395,132,000 after buying an additional 257,501 shares in the last quarter. Fisher Asset Management LLC raised its stake in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock valued at $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock valued at $1,618,407,000 after buying an additional 96,381 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In related news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Tuesday, December 24th. The stock was 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 directly owns 53,861 shares of the company’s stock, valued at $18,474,323. This trade represents a 10.35 % 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, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CRM. Macquarie restated a “neutral” rating and set a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Stifel Nicolaus increased their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Scotiabank increased their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 price target (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, The Goldman Sachs Group increased their price target on Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Trading Up 1.4 %

Salesforce stock opened at $344.07 on Wednesday. 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 company has a market capitalization of $329.28 billion, a price-to-earnings ratio of 56.59, a PEG ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a one year low of $212.00 and a one year high of $369.00. The company’s fifty day moving average price is $338.67 and its two-hundred day moving average price is $298.64.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate 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%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Salesforce 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.