Salesforce, Inc. (NYSE:CRM) Shares Sold by CGN Advisors LLC

CGN Advisors LLC lessened its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 19.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,502 shares of the CRM provider's stock after selling 2,538 shares during the quarter. CGN Advisors LLC's holdings in Salesforce were worth $3,511,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. State Street Corp lifted its stake in shares of Salesforce by 1.8% during the third quarter. State Street Corp now owns 49,007,404 shares of the CRM provider's stock valued at $13,432,855,000 after buying an additional 864,193 shares during the period. Geode Capital Management LLC lifted its stake in shares of Salesforce by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider's stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider's stock worth $3,360,215,000 after purchasing an additional 314,530 shares during the last quarter. Legal & General Group Plc grew its position in shares of Salesforce by 2.2% in the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider's stock valued at $2,141,562,000 after purchasing an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Salesforce by 1.0% in the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider's stock valued at $1,632,599,000 after purchasing an additional 57,825 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Loop Capital raised their target price on shares of Salesforce from $340.00 to $360.00 and gave the stock a "hold" rating in a research report on Wednesday, December 4th. Wedbush reaffirmed an "outperform" rating and issued a $425.00 target price on shares of Salesforce in a research report on Wednesday, December 18th. Oppenheimer reissued 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. Finally, Morgan Stanley raised their price objective on Salesforce from $330.00 to $405.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average price target of $377.63.

Insider Activity

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares in the company, valued at $15,100,399.70. The trade was a 1.67 % 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, COO Brian Millham sold 6,161 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $289.75, for a total transaction of $1,785,149.75. Following the completion of the transaction, the chief operating officer now owns 969 shares of the company's stock, valued at $280,767.75. This represents a 86.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,183,838 shares of company stock valued at $405,595,158. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM stock traded up $4.77 on Friday, hitting $324.77. 6,283,814 shares of the stock traded hands, compared to its average volume of 4,604,853. The company's fifty day moving average is $337.31 and its 200 day moving average is $291.56. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The company has a market capitalization of $310.81 billion, a PE ratio of 53.42, a PEG ratio of 2.87 and a beta of 1.30. 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 - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the company posted $1.62 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities research analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio (DPR) is presently 26.32%.

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.