Salesforce, Inc. (NYSE:CRM) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 36.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 717,515 shares of the CRM provider’s stock after selling 416,760 shares during the period. Sei Investments Co. owned approximately 0.07% of Salesforce worth $184,473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CRM. Ruedi Wealth Management Inc. increased its stake in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC raised its holdings in 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 in the last quarter. Red Tortoise LLC bought a new stake in Salesforce during the first quarter worth approximately $33,000. Finally, Stephens Consulting LLC lifted its position in Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total transaction of $1,079,568.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,223,020.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, COO Brian Millham sold 1,678 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $406,612.96. Following the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $402,735.84. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,223,020.24. The disclosure for this sale can be found here. Insiders sold 66,576 shares of company stock valued at $16,957,573 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of research reports. Truist Financial reissued a “buy” rating and issued a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a research note on Thursday. Oppenheimer boosted their price target on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research report on Friday. Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Finally, Erste Group Bank reissued a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $306.00.

Salesforce Trading Up 0.2 %

Salesforce stock opened at $266.57 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. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company’s fifty day simple moving average is $254.14 and its 200-day simple moving average is $266.67. The stock has a market cap of $258.31 billion, a P/E ratio of 47.94, a P/E/G ratio of 2.26 and a beta of 1.29.

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

Salesforce Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

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.