Salesforce, Inc. (NYSE:CRM) Shares Sold by ING Groep NV

ING Groep NV trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 0.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 300,909 shares of the CRM provider’s stock after selling 2,150 shares during the period. Salesforce comprises 0.7% of ING Groep NV’s holdings, making the stock its 26th largest position. ING Groep NV’s holdings in Salesforce were worth $100,603,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce during the third quarter worth $27,000. Arlington Trust Co LLC grew its stake in shares of Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after buying an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in Salesforce during the 4th quarter worth $30,000. Asset Planning Inc acquired a new position in Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial acquired a new position in Salesforce during the 4th quarter worth $32,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $338.95, for a total transaction of $5,019,171.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total transaction of $2,041,607.78. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $15,342,415. The trade was a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,117,641 shares of company stock valued at $386,408,308 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CRM shares. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up from $400.00) on shares of Salesforce in a report on Wednesday, December 4th. Piper Sandler reiterated an “overweight” rating and set a $405.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Jefferies Financial Group boosted their target price on Salesforce from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. Macquarie restated a “neutral” rating and issued a $370.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, UBS Group upped their target price on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $376.84.

Salesforce Stock Performance

Shares of Salesforce stock opened at $324.19 on Thursday. The firm has a market capitalization of $310.25 billion, a price-to-earnings ratio of 53.32, a PEG ratio of 2.62 and a beta of 1.31. 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 one year low of $212.00 and a one year high of $369.00. The business has a 50-day simple moving average of $335.02 and a 200 day simple moving average of $304.66.

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). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The business had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the previous year, the firm earned $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% on a year-over-year basis. On average, research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued 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 dividend payout ratio (DPR) is presently 26.32%.

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.