Salesforce, Inc. (NYSE:CRM) Position Lowered by International Assets Investment Management LLC

International Assets Investment Management LLC reduced its position in Salesforce, Inc. (NYSE:CRM) by 99.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,351 shares of the CRM provider’s stock after selling 999,497 shares during the quarter. International Assets Investment Management LLC’s holdings in Salesforce were worth $1,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Infrastructure Capital Advisors LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at about $27,000. Clear Investment Research LLC grew its holdings 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 purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. raised its position in shares of 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 purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of Salesforce in the 2nd quarter worth approximately $33,000. Finally, Annapolis Financial Services LLC boosted its position in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock valued at $38,000 after purchasing an additional 80 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CRM. Stifel Nicolaus raised their target price on Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. DA Davidson boosted their target price on shares of Salesforce from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Canaccord Genuity Group raised their price target on shares of Salesforce from $315.00 to $415.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. JMP Securities reiterated a “market outperform” rating and set a $450.00 price objective on shares of Salesforce in a research report on Wednesday, December 18th. Finally, Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and an average target price of $376.05.

Salesforce Stock Performance

Shares of CRM opened at $326.67 on Friday. The company has a market capitalization of $312.62 billion, a PE ratio of 53.73, a PEG ratio of 3.21 and a beta of 1.30. 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’s 50 day moving average price is $335.36 and its 200 day moving average price is $288.53. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly 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 company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed 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 yield of 0.49%. Salesforce’s dividend payout ratio is currently 26.32%.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 317,105 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total transaction of $109,965,671.90. Following the completion of the sale, the chief executive officer now owns 12,162,457 shares of the company’s stock, valued at $4,217,696,838.46. This represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares of the company’s stock, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,181,817 shares of company stock valued at $404,760,429. 3.20% of the stock is currently owned by corporate insiders.

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.