Salesforce, Inc. (NYSE:CRM) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 20,046 shares of the CRM provider’s stock after purchasing an additional 891 shares during the period. Salesforce makes up about 0.8% of Linden Thomas Advisory Services LLC’s holdings, making the stock its 8th biggest position. Linden Thomas Advisory Services LLC’s holdings in Salesforce were worth $6,702,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Veritas Asset Management LLP purchased a new position in Salesforce in the 3rd quarter valued at approximately $733,805,000. KBC Group NV grew its holdings in Salesforce by 171.2% in the third quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Salesforce by 23,664.2% in the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after buying an additional 998,628 shares in the last quarter. State Street Corp raised its stake in shares of Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after buying an additional 864,193 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Salesforce by 95.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,624,520 shares of the CRM provider’s stock worth $462,063,000 after buying an additional 794,506 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CRM shares. Oppenheimer restated an “outperform” rating and set a $415.00 target price (up from $385.00) on shares of Salesforce in a report on Wednesday, December 4th. Bank of America lifted their price objective on Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and set a $400.00 target price (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Jefferies Financial Group boosted their price target on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Guggenheim lowered Salesforce from a “neutral” rating to a “sell” rating and set a $247.00 price objective on the stock. in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $290.23, for a total transaction of $145,115.00. Following the completion of the sale, the chief accounting officer now owns 6,506 shares in the company, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the sale, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. This represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,173,891 shares of company stock valued at $402,840,388. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.4 %

NYSE:CRM opened at $333.47 on Friday. The business’s 50-day moving average is $336.73 and its two-hundred day moving average is $294.01. The firm has a market capitalization of $319.13 billion, a PE ratio of 54.85, a price-to-earnings-growth ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. 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 (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). The company had revenue of $9.44 billion for the quarter, compared to analysts’ expectations of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. Research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company 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 was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.48%. Salesforce’s dividend payout ratio (DPR) is presently 26.32%.

Salesforce 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.