New York State Common Retirement Fund Has $394.19 Million Holdings in Salesforce, Inc. (NYSE:CRM)

New York State Common Retirement Fund lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,179,055 shares of the CRM provider's stock after selling 12,600 shares during the quarter. Salesforce makes up approximately 0.5% of New York State Common Retirement Fund's holdings, making the stock its 25th biggest holding. New York State Common Retirement Fund owned about 0.12% of Salesforce worth $394,193,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CRM. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at approximately $27,000. Arlington Trust Co LLC raised its holdings in Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after buying an additional 40 shares during the period. Compass Financial Services Inc acquired a new stake in Salesforce during the 4th quarter worth approximately $30,000. Asset Planning Inc acquired a new stake in Salesforce during the 4th quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the 4th quarter worth approximately $32,000. Institutional investors own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company's stock, valued at $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 317,105 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,102,833 shares of company stock valued at $381,389,136. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

CRM stock traded down $8.89 during midday trading on Friday, reaching $309.54. The company had a trading volume of 7,341,387 shares, compared to its average volume of 6,249,096. The company has a market capitalization of $296.23 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 2.63 and a beta of 1.31. The stock has a 50 day moving average price of $334.23 and a 200-day moving average price of $304.76. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. 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 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 company had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Announces Dividend

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 $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 dividend yield of 0.52%. Salesforce's dividend payout ratio (DPR) is currently 26.32%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Canaccord Genuity Group raised their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Bank of America raised their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a "buy" rating in a report on Wednesday, December 4th. Truist Financial restated a "buy" rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Piper Sandler reaffirmed an "overweight" rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Finally, Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $375.53.

Salesforce 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.