International Assets Investment Management LLC Has $1.11 Million Holdings in Salesforce, Inc. (NYSE:CRM)

International Assets Investment Management LLC reduced its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 99.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,351 shares of the CRM provider's stock after selling 999,497 shares during the period. International Assets Investment Management LLC's holdings in Salesforce were worth $1,108,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Aviance Capital Partners LLC boosted its holdings in Salesforce by 0.5% during the third quarter. Aviance Capital Partners LLC now owns 6,797 shares of the CRM provider's stock valued at $1,860,000 after acquiring an additional 33 shares during the period. EWA LLC boosted its stake in Salesforce by 1.7% during the 3rd quarter. EWA LLC now owns 2,001 shares of the CRM provider's stock valued at $548,000 after purchasing an additional 33 shares during the period. Umpqua Bank grew its holdings in Salesforce by 0.4% in the 3rd quarter. Umpqua Bank now owns 7,708 shares of the CRM provider's stock valued at $2,110,000 after buying an additional 34 shares during the last quarter. Principal Street Partners LLC increased its position in Salesforce by 1.0% in the 3rd quarter. Principal Street Partners LLC now owns 3,297 shares of the CRM provider's stock worth $891,000 after buying an additional 34 shares during the period. Finally, Nvwm LLC increased its position in Salesforce by 1.4% in the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider's stock worth $667,000 after buying an additional 36 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the transaction, the chief accounting officer now owns 7,006 shares of the company's stock, valued at approximately $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $289.87, for a total transaction of $1,217,454.00. Following the sale, the insider now directly owns 118,514 shares of the company's stock, valued at $34,353,653.18. This represents a 3.42 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,181,817 shares of company stock valued at $404,760,429. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. Macquarie restated a "neutral" rating and issued a $370.00 price objective on shares of Salesforce in a research note on Wednesday, December 18th. Guggenheim lowered shares of Salesforce from a "neutral" rating to a "sell" rating and set a $247.00 price target on the stock. in a research report on Monday. Northland Capmk raised shares of Salesforce from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 2nd. Truist Financial reissued a "buy" rating and set a $400.00 target price (up from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. Finally, Cfra set a $343.00 price target on Salesforce in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, thirty have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $376.05.

Salesforce Trading Down 2.8 %

NYSE CRM traded down $9.07 during trading hours on Friday, hitting $317.83. The company's stock had a trading volume of 6,534,903 shares, compared to its average volume of 4,919,533. The stock has a fifty day moving average of $335.36 and a 200 day moving average of $288.53. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The firm has a market capitalization of $304.16 billion, a P/E ratio of 52.27, a PEG ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 EPS 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 company had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the firm earned $1.62 earnings per share. The firm's revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts forecast that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce's dividend payout ratio is currently 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.