Sustainable Insight Capital Management LLC Has $1.14 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Sustainable Insight Capital Management LLC boosted its position in shares of Salesforce, Inc. (NYSE:CRM) by 127.6% in the fourth quarter, Holdings Channel reports. The firm owned 3,411 shares of the CRM provider’s stock after purchasing an additional 1,912 shares during the period. Sustainable Insight Capital Management LLC’s holdings in Salesforce were worth $1,140,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the 3rd quarter worth $27,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Salesforce in the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. raised its holdings in Salesforce by 300.0% during the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC lifted its stake in Salesforce by 135.6% in the third quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after buying an additional 80 shares in the last quarter. Finally, FSA Wealth Management LLC acquired a new position in shares of Salesforce in the third quarter valued at approximately $53,000. Institutional investors own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CRM shares. Wedbush reaffirmed an “outperform” rating and issued a $425.00 target price on shares of Salesforce in a research note on Wednesday, December 18th. Guggenheim cut Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 target price on the stock. in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and issued a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Canaccord Genuity Group increased their price objective on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Macquarie reaffirmed a “neutral” rating and issued a $370.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $377.63.

Salesforce Stock Up 0.6 %

CRM stock opened at $334.75 on Friday. The stock’s 50 day simple moving average is $336.50 and its 200 day simple moving average is $293.20. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market cap of $320.36 billion, a P/E ratio of 55.06, a price-to-earnings-growth ratio of 2.95 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted 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 during 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 12.34%. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.62 EPS. On average, research analysts expect that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders 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 0.48%. Salesforce’s payout ratio is presently 26.32%.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total value of $2,133,803.00. Following the transaction, the chief financial officer now directly owns 53,861 shares of the company’s stock, valued at approximately $18,474,323. The trade was a 10.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brian Millham sold 708 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $332.28, for a total value of $235,254.24. Following the completion of the transaction, the chief operating officer now owns 1,239 shares in the company, valued at approximately $411,694.92. The trade was a 36.36 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,173,891 shares of company stock valued at $402,840,388. 3.20% of the stock is owned by insiders.

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.