Salesforce, Inc. (NYSE:CRM) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund decreased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,690 shares of the CRM provider's stock after selling 2,637 shares during the quarter. Salesforce comprises approximately 0.5% of Kentucky Retirement Systems Insurance Trust Fund's portfolio, making the stock its 29th biggest holding. Kentucky Retirement Systems Insurance Trust Fund's holdings in Salesforce were worth $7,853,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. M&G Plc purchased a new position in shares of Salesforce in the first quarter valued at $2,178,000. First Foundation Advisors raised its position in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider's stock worth $249,000 after acquiring an additional 228 shares during the last quarter. Spirepoint Private Client LLC purchased a new stake in shares of Salesforce in the first quarter valued at about $345,000. Blue Barn Wealth LLC grew its position in shares of Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider's stock valued at $665,000 after purchasing an additional 39 shares during the last quarter. Finally, Strait & Sound Wealth Management LLC raised its position in shares of Salesforce by 3.3% during the 1st quarter. Strait & Sound Wealth Management LLC now owns 2,883 shares of the CRM provider's stock worth $863,000 after purchasing an additional 91 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the sale, the insider now owns 119,402 shares of the company's stock, valued at $35,431,349.48. This trade represents a 3.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business'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 $117,824.77. Following the transaction, the chief accounting officer now directly 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. Insiders sold a total of 144,373 shares of company stock worth $41,250,680 over the last 90 days. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler downgraded Salesforce from a "strong-buy" rating to a "hold" rating in a research report on Thursday, October 10th. Truist Financial restated a "buy" rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Evercore ISI reissued an "outperform" rating and issued a $300.00 price objective on shares of Salesforce in a research report on Monday, August 26th. Phillip Securities reaffirmed an "accumulate" rating and issued a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $300.00 price objective on shares of Salesforce in a report on Thursday, September 19th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $322.51.

Salesforce Stock Down 1.9 %

Shares of Salesforce stock traded down $6.39 on Friday, hitting $325.26. 7,093,003 shares of the company's stock traded hands, compared to its average volume of 6,319,677. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The stock has a market cap of $310.95 billion, a P/E ratio of 56.57, a PEG ratio of 3.09 and a beta of 1.29. The firm's 50-day moving average is $286.61 and its 200 day moving average is $266.64.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts' consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. Equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

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.