EULAV Asset Management Has $10.40 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

EULAV Asset Management trimmed its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 58.0% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 38,004 shares of the CRM provider's stock after selling 52,401 shares during the period. EULAV Asset Management's holdings in Salesforce were worth $10,402,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ontario Teachers Pension Plan Board increased its stake in shares of Salesforce by 12.0% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,060,741 shares of the CRM provider's stock worth $564,045,000 after acquiring an additional 220,358 shares during the period. First Horizon Advisors Inc. boosted its holdings in Salesforce by 1.0% in the 3rd quarter. First Horizon Advisors Inc. now owns 18,830 shares of the CRM provider's stock valued at $5,154,000 after purchasing an additional 181 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Salesforce by 13.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 22,083 shares of the CRM provider's stock worth $6,044,000 after buying an additional 2,665 shares in the last quarter. Howe & Rusling Inc. acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $283,000. Finally, NS Partners Ltd boosted its stake in shares of Salesforce by 2.5% in the third quarter. NS Partners Ltd now owns 101,716 shares of the CRM provider's stock valued at $27,841,000 after buying an additional 2,434 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, COO Brian Millham sold 4,056 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Amy E. Weaver sold 897 shares of the firm's 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 completion of the sale, the chief financial officer now owns 52,930 shares of the company's stock, valued at $15,100,399.70. The trade was a 1.67 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 140,173 shares of company stock valued at $40,146,206. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

CRM stock traded up $2.27 during trading on Wednesday, hitting $325.70. The company had a trading volume of 3,565,206 shares, compared to its average volume of 6,295,385. The business has a 50 day moving average of $289.68 and a 200 day moving average of $267.31. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $311.37 billion, a price-to-earnings ratio of 56.22, a P/E/G ratio of 2.94 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two week high of $348.86.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.63 earnings per share. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce's dividend payout ratio is 27.83%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Salesforce from $275.00 to $330.00 and gave the company an "equal weight" rating in a report on Tuesday, November 12th. Royal Bank of Canada reissued an "outperform" rating and issued a $300.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. JMP Securities reaffirmed a "market outperform" rating and set a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. UBS Group increased their target price on shares of Salesforce from $250.00 to $275.00 and gave the stock a "neutral" rating in a research report on Thursday, August 29th. Finally, Erste Group Bank upgraded Salesforce from a "hold" rating to a "buy" rating in a report on Tuesday. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $326.19.

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.