Point72 Asset Management L.P. Has $360,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Point72 Asset Management L.P. lessened its stake in Salesforce, Inc. (NYSE:CRM) by 20.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,400 shares of the CRM provider’s stock after selling 350 shares during the quarter. Point72 Asset Management L.P.’s holdings in Salesforce were worth $360,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after acquiring an additional 1,008,841 shares during the last quarter. Fisher Asset Management LLC raised its position in Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after acquiring an additional 736,986 shares in the last quarter. Capital Research Global Investors lifted its stake in Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the last quarter. Capital International Investors grew its position in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after acquiring an additional 407,834 shares during the period. Finally, Legal & General Group Plc grew its holdings in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after purchasing an additional 176,641 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Phillip Securities reiterated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a report on Friday, September 20th. Sanford C. Bernstein increased their price target on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, UBS Group boosted their price objective on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $310.74.

Salesforce Trading Up 2.4 %

CRM opened at $287.65 on Friday. 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 $278.73 billion, a PE ratio of 51.74, a price-to-earnings-growth ratio of 2.39 and a beta of 1.30. The company has a fifty day moving average of $258.53 and a 200-day moving average of $264.78. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71.

Salesforce (NYSE:CRM) last announced 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce, Inc. will post 7.54 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $254.90, for a total value of $1,070,580.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at approximately $29,745,045.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at $1,644,921.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $254.90, for a total value of $1,070,580.00. Following the sale, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,745,045.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 80,612 shares of company stock valued at $21,133,273 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

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.