Salesforce, Inc. (NYSE:CRM) Shares Sold by ASB Consultores LLC

ASB Consultores LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM) by 44.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,823 shares of the CRM provider’s stock after selling 1,464 shares during the quarter. ASB Consultores LLC’s holdings in Salesforce were worth $469,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Capital International Investors lifted its stake in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares during the period. Capital Research Global Investors lifted its position in shares of Salesforce by 26.9% during the 1st 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 period. GQG Partners LLC purchased a new stake in shares of Salesforce during the 1st quarter worth approximately $910,220,000. Swedbank AB purchased a new position in Salesforce in the 1st quarter valued at approximately $874,748,000. Finally, Coatue Management LLC acquired a new position in Salesforce during the fourth quarter worth $564,188,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE CRM opened at $265.87 on Friday. The stock has a market capitalization of $257.63 billion, a P/E ratio of 47.82, a P/E/G ratio of 2.26 and a beta of 1.29. The firm’s 50-day moving average price is $253.90 and its two-hundred day moving average price is $267.00. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business earned $1.63 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Insider Activity at Salesforce

In related news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares in the company, valued at approximately $1,644,921.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at approximately $29,193,087.81. The disclosure for this sale can be found here. Insiders have sold a total of 66,576 shares of company stock worth $16,957,573 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Piper Sandler lifted their price objective on Salesforce from $250.00 to $268.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Barclays lowered their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets upped their price objective on Salesforce from $265.00 to $305.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Finally, Macquarie dropped their price objective on Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $306.00.

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.