Salesforce, Inc. (NYSE:CRM) Shares Acquired by Transatlantique Private Wealth LLC

Transatlantique Private Wealth LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,345 shares of the CRM provider’s stock after acquiring an additional 313 shares during the period. Salesforce comprises 1.5% of Transatlantique Private Wealth LLC’s investment portfolio, making the stock its 13th biggest position. Transatlantique Private Wealth LLC’s holdings in Salesforce were worth $3,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital International Investors boosted its stake in shares of Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares during the period. Capital Research Global Investors raised its holdings 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 in the last quarter. GQG Partners LLC purchased a new position in Salesforce in the first quarter worth approximately $910,220,000. Swedbank AB acquired a new position in Salesforce during the 1st quarter worth approximately $874,748,000. Finally, Coatue Management LLC acquired a new position in Salesforce during the 4th quarter worth approximately $564,188,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Salesforce stock opened at $266.57 on Friday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a market capitalization of $258.31 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.26 and a beta of 1.29. The stock has a fifty day moving average of $254.14 and a two-hundred day moving average of $266.67. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.63 EPS. On average, analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Wednesday, September 18th. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In other Salesforce news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the transaction, the insider now directly owns 22,154 shares in the company, valued at approximately $5,368,357.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the business’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 completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,223,020.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Srinivas Tallapragada sold 942 shares of Salesforce stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the transaction, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,576 shares of company stock worth $16,957,573. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on CRM shares. BNP Paribas upgraded shares of Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Raymond James raised their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial reaffirmed a “buy” rating and set a $315.00 price objective (up from $300.00) on shares of Salesforce in a research report on Thursday. Wells Fargo & Company raised their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 29th. Finally, Phillip Securities reaffirmed an “accumulate” rating and issued a $305.00 price target on shares of Salesforce in a report on Friday, August 30th. Nine research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $306.00.

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.