Generali Investments Management Co LLC Sells 3,504 Shares of Salesforce Inc. $CRM

Generali Investments Management Co LLC lessened its stake in Salesforce Inc. (NYSE:CRM) by 30.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 7,998 shares of the CRM provider’s stock after selling 3,504 shares during the quarter. Generali Investments Management Co LLC’s holdings in Salesforce were worth $1,253,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. J. Stern & Co. LLP lifted its holdings in shares of Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock worth $12,552,896,000 after acquiring an additional 47,189,352 shares during the last quarter. Norges Bank bought a new position in Salesforce in the fourth quarter valued at $3,182,951,000. Arrowstreet Capital Limited Partnership increased its stake in Salesforce by 130.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 12,659,217 shares of the CRM provider’s stock valued at $2,363,096,000 after acquiring an additional 7,160,302 shares during the last quarter. Cardano Risk Management B.V. raised its position in Salesforce by 924.7% during the fourth quarter. Cardano Risk Management B.V. now owns 3,883,610 shares of the CRM provider’s stock valued at $1,028,807,000 after purchasing an additional 3,504,605 shares in the last quarter. Finally, Capital International Investors raised its position in Salesforce by 13.3% during the fourth quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after purchasing an additional 2,669,891 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CRM shares. Phillip Securities cut Salesforce from a “buy” rating to a “hold” rating and cut their price objective for the stock from $253.00 to $166.00 in a report on Monday, June 29th. Roth Capital reissued a “buy” rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, May 28th. UBS Group restated an “equal weight” rating on shares of Salesforce in a research report on Tuesday, July 21st. Wall Street Zen lowered Salesforce from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $315.00 price target on shares of Salesforce in a research report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, sixteen have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.51.

Salesforce Price Performance

Shares of Salesforce stock opened at $197.32 on Tuesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 0.79 and a quick ratio of 0.79. The business’s 50 day simple moving average is $170.99 and its two-hundred day simple moving average is $182.79. The stock has a market capitalization of $161.61 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.04 and a beta of 1.16. Salesforce Inc. has a one year low of $146.32 and a one year high of $269.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 27th. The CRM provider reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.13 by $0.75. The firm had revenue of $11.13 billion during the quarter, compared to the consensus estimate of $11.05 billion. Salesforce had a return on equity of 18.72% and a net margin of 18.73%.The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.58 earnings per share. Salesforce has set its FY 2027 guidance at 14.060-14.120 EPS and its Q2 2027 guidance at 3.250-3.270 EPS. Analysts forecast that Salesforce Inc. will post 10.27 EPS for the current year.

Salesforce Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Investors of record on Thursday, June 11th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Thursday, June 11th. Salesforce’s dividend payout ratio is currently 20.37%.

About Salesforce

Salesforce, founded in 1999 and headquartered in San Francisco, is a global provider of cloud-based software focused on customer relationship management (CRM) and enterprise applications. The company popularized the software-as-a-service (SaaS) model for CRM and has built a broad portfolio of products designed to help organizations manage sales, service, marketing, commerce and analytics through a unified, cloud-first platform.

Core offerings include Sales Cloud for sales automation, Service Cloud for customer support, Marketing Cloud for digital marketing and engagement, and Commerce Cloud for e-commerce.