EULAV Asset Management Lowers Holdings in Salesforce, Inc. (NYSE:CRM)

EULAV Asset Management trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 37,006 shares of the CRM provider’s stock after selling 998 shares during the quarter. EULAV Asset Management’s holdings in Salesforce were worth $12,372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Infrastructure Capital Advisors LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $27,000. Godsey & Gibb Inc. increased its holdings in shares of Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Annapolis Financial Services LLC raised its stake in shares of Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after purchasing an additional 80 shares during the last quarter. Friedenthal Financial bought a new position in shares of Salesforce during the fourth quarter valued at $55,000. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Salesforce by 88.3% during the fourth quarter. Rosenberg Matthew Hamilton now owns 177 shares of the CRM provider’s stock valued at $59,000 after buying an additional 83 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 1.5 %

Shares of CRM stock opened at $325.81 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $311.80 billion, a price-to-earnings ratio of 53.59, a price-to-earnings-growth ratio of 3.09 and a beta of 1.31. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $369.00. The stock’s 50-day moving average price is $339.05 and its 200-day moving average price is $299.87.

Salesforce (NYSE:CRM) last released 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). The firm had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business’s revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 EPS. Equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.49%. Salesforce’s payout ratio is currently 26.32%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating and set a $415.00 price objective (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. JPMorgan Chase & Co. raised their target price on shares of Salesforce from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Barclays increased their price target on Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $377.63.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total transaction of $249,995,253.00. Following the transaction, the director now owns 3,192,009 shares in the company, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $335.94, for a total transaction of $2,089,882.74. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,705,195. This trade represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,111,420 shares of company stock worth $384,366,700 in the last three months. Insiders own 3.20% of the company’s stock.

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.