Taurus Asset Management LLC Has $26.27 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Taurus Asset Management LLC trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 2.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,988 shares of the CRM provider's stock after selling 2,800 shares during the period. Salesforce comprises approximately 2.6% of Taurus Asset Management LLC's holdings, making the stock its 13th biggest holding. Taurus Asset Management LLC's holdings in Salesforce were worth $26,273,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Piscataqua Savings Bank raised its position in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider's stock valued at $26,000 after buying an additional 96 shares during the last quarter. Clear Investment Research LLC boosted its holdings in shares of Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Godsey & Gibb Inc. grew its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock valued at $33,000 after purchasing an additional 90 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the second quarter valued at $33,000. Finally, Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $244.81, for a total value of $608,108.04. Following the transaction, the insider now owns 828 shares in the company, valued at approximately $202,702.68. The trade was a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $117,824.77. Following the completion of the transaction, the chief accounting officer now owns 7,006 shares in the company, 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 144,373 shares of company stock valued at $41,250,680 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Stock Performance

Shares of CRM traded down $4.40 during trading hours on Monday, reaching $320.86. 2,152,856 shares of the company's stock traded hands, compared to its average volume of 6,301,043. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $348.86. The business's fifty day simple moving average is $286.61 and its two-hundred day simple moving average is $266.61. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $306.74 billion, a price-to-earnings ratio of 56.20, a P/E/G ratio of 2.94 and a beta of 1.29.

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

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.50%. Salesforce's dividend payout ratio (DPR) is 27.83%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Wedbush lifted their price target on Salesforce from $315.00 to $325.00 and gave the company an "outperform" rating in a report on Friday, September 27th. Truist Financial reaffirmed a "buy" rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a research report on Thursday, September 19th. Raymond James upped their price objective on Salesforce from $325.00 to $350.00 and gave the stock a "strong-buy" rating in a report on Thursday, August 29th. Loop Capital raised their price objective on Salesforce from $270.00 to $340.00 and gave the stock a "hold" rating in a report on Thursday. Finally, Citigroup boosted their target price on Salesforce from $260.00 to $290.00 and gave the stock a "neutral" rating in a report on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $322.51.

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.