Aljian Capital Management LLC Has $5.52 Million Stake in Salesforce, Inc. (NYSE:CRM)

Aljian Capital Management LLC lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 24.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,499 shares of the CRM provider’s stock after acquiring an additional 3,241 shares during the quarter. Salesforce makes up approximately 1.2% of Aljian Capital Management LLC’s holdings, making the stock its 13th largest holding. Aljian Capital Management LLC’s holdings in Salesforce were worth $5,516,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CRM. Nvest Financial LLC lifted its position in shares of Salesforce by 1.1% during the fourth quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD raised its position in Salesforce by 0.3% in the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Sachetta LLC lifted its holdings in Salesforce by 0.3% during the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock worth $3,684,000 after buying an additional 32 shares in the last quarter. Aviance Capital Partners LLC boosted its position in Salesforce by 0.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider’s stock valued at $1,860,000 after buying an additional 33 shares during the last quarter. Finally, EWA LLC increased its stake in shares of Salesforce by 1.7% in the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider’s stock valued at $548,000 after buying an additional 33 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up previously from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Stifel Nicolaus raised their target price on shares of Salesforce from $390.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Oppenheimer reiterated an “outperform” rating and set a $415.00 price target (up previously from $385.00) on shares of Salesforce in a research report on Wednesday, December 4th. Barclays increased their price objective on shares of Salesforce from $415.00 to $425.00 and gave the company an “overweight” rating in a report on Wednesday, December 4th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 target price on shares of Salesforce in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have issued a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Price Performance

Shares of CRM opened at $326.26 on Thursday. The company has a market cap of $312.23 billion, a price-to-earnings ratio of 53.66, a PEG ratio of 2.66 and a beta of 1.31. The company’s fifty day simple moving average is $337.91 and its 200 day simple moving average is $302.13. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.62 EPS. On average, research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.49%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio is 26.32%.

Insider Buying and Selling at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $343.00, for a total transaction of $2,133,803.00. Following the completion of the sale, the chief financial officer now directly owns 53,861 shares in the company, valued at $18,474,323. This trade represents a 10.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 14,808 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The disclosure for this sale can be found here. Insiders sold 1,111,420 shares of company stock valued at $384,366,700 in the last quarter. 3.20% of the stock is currently 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.