Worldquant Millennium Advisors LLC Sells 135,094 Shares of Salesforce, Inc. (NYSE:CRM)

Worldquant Millennium Advisors LLC decreased its position in Salesforce, Inc. (NYSE:CRM) by 55.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,392 shares of the CRM provider’s stock after selling 135,094 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in Salesforce were worth $29,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter worth approximately $27,000. Clear Investment Research LLC boosted its position in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC raised its holdings in shares of Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the 2nd quarter worth $33,000. Finally, Godsey & Gibb Inc. lifted its stake 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 during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In other news, COO Brian Millham sold 14,808 shares of the stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $342.81, for a total transaction of $246,480.39. Following the completion of the transaction, the insider now owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 140,982 shares of company stock valued at $41,591,457. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $361.99 on Friday. The firm has a fifty day simple moving average of $308.26 and a two-hundred day simple moving average of $272.43. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company has a market capitalization of $346.06 billion, a PE ratio of 59.54, a P/E/G ratio of 3.00 and a beta of 1.30.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.31%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. Research analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.44%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CRM shares. Truist Financial restated a “buy” rating and issued a $400.00 price objective (up from $380.00) on shares of Salesforce in a research report on Wednesday. Needham & Company LLC lifted their target price on Salesforce from $345.00 to $375.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird increased their target price on Salesforce from $340.00 to $430.00 and gave the company an “outperform” rating in a research report on Wednesday. Phillip Securities reiterated an “accumulate” rating and set a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a research report on Thursday, August 29th. Eight investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $372.86.

About Salesforce

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.