Salesforce, Inc. (NYSE:CRM) Shares Acquired by Marco Investment Management LLC

Marco Investment Management LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 1.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 53,404 shares of the CRM provider’s stock after buying an additional 806 shares during the period. Salesforce makes up approximately 1.3% of Marco Investment Management LLC’s portfolio, making the stock its 27th largest position. Marco Investment Management LLC’s holdings in Salesforce were worth $14,617,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Prime Capital Investment Advisors LLC increased its holdings in shares of Salesforce by 13.6% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its holdings in Salesforce by 16.1% in the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after purchasing an additional 1,834 shares during the last quarter. AIA Group Ltd increased its holdings in Salesforce by 8.9% in the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the last quarter. Harvest Portfolios Group Inc. increased its holdings in Salesforce by 13.6% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after purchasing an additional 10,656 shares during the last quarter. Finally, XN LP increased its holdings in Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 3,528 shares of Salesforce stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $250.59, for a total value of $884,081.52. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at approximately $29,464,622.79. The trade was a 2.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,991 shares of company stock worth $43,333,238. 3.20% of the stock is owned by company insiders.

Salesforce Price Performance

Shares of CRM opened at $342.02 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The stock has a market cap of $326.97 billion, a PE ratio of 59.48, a price-to-earnings-growth ratio of 3.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a fifty day moving average price of $294.61 and a 200 day moving average price of $268.60.

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

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders 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 dividend on an annualized basis and a yield of 0.47%. Salesforce’s dividend payout ratio is presently 27.83%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CRM. Canaccord Genuity Group lifted their target price on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and issued a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Northland Securities upgraded shares of Salesforce from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $270.00 to $400.00 in a report on Wednesday, October 2nd. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $305.00 target price on shares of Salesforce in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.37.

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.