Salesforce, Inc. (NYSE:CRM) Shares Bought by J.Safra Asset Management Corp

J.Safra Asset Management Corp raised its holdings in Salesforce, Inc. (NYSE:CRM) by 625.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 225 shares of the CRM provider’s stock after buying an additional 194 shares during the period. J.Safra Asset Management Corp’s holdings in Salesforce were worth $58,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Norges Bank purchased a new position in Salesforce in the fourth quarter valued at $2,762,331,000. Capital International Investors boosted its position in shares of Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares in the last quarter. Capital Research Global Investors increased its holdings in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new stake in shares of Salesforce during the 1st quarter worth about $910,220,000. Finally, Swedbank AB purchased a new stake in Salesforce during the first quarter worth approximately $874,748,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM traded down $0.13 during trading hours on Friday, hitting $262.66. The stock had a trading volume of 876,206 shares, compared to its average volume of 6,597,607. The stock has a market capitalization of $254.52 billion, a price-to-earnings ratio of 47.18, a P/E/G ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week high of $318.71. The company’s fifty day moving average is $249.05 and its two-hundred day moving average is $273.20.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period in the prior year, the company posted $1.15 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. On average, analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. Salesforce’s dividend payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Macquarie dropped their price target on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $250.00 target price on shares of Salesforce in a research report on Friday, July 12th. Bank of America boosted their price target on shares of Salesforce from $288.00 to $316.00 and gave the company a “buy” rating in a research report on Friday. Wedbush decreased their price objective on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a research note on Wednesday, May 29th. Finally, Stifel Nicolaus cut their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $291.50.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the completion of the sale, the insider now owns 115,762 shares of the company’s stock, valued at $33,015,322.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the sale, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $285.20, for a total transaction of $1,197,840.00. Following the completion of the sale, the insider now directly owns 115,762 shares in the company, valued at $33,015,322.40. The disclosure for this sale can be found here. Insiders have sold 187,136 shares of company stock worth $47,935,109 in the last ninety days. 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.