Aljian Capital Management LLC Has $3.63 Million Stake in Salesforce, Inc. (NYSE:CRM)

Aljian Capital Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 16.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,258 shares of the CRM provider’s stock after purchasing an additional 1,834 shares during the period. Salesforce comprises about 0.8% of Aljian Capital Management LLC’s holdings, making the stock its 20th largest holding. Aljian Capital Management LLC’s holdings in Salesforce were worth $3,629,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital Research Global Investors raised its position 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 purchasing an additional 3,044,611 shares during the last quarter. Capital International Investors raised its holdings in 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 buying an additional 407,834 shares during the last quarter. Legal & General Group Plc boosted its position in Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after acquiring an additional 1,922,674 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Salesforce by 25.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock valued at $1,125,331,000 after acquiring an additional 877,495 shares during the period. Institutional investors own 80.43% of the company’s stock.

Insiders Place Their Bets

In related news, insider Sabastian Niles sold 2,484 shares of Salesforce stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. This trade represents a 5.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 144,373 shares of company stock valued at $41,250,680. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Salesforce stock opened at $325.26 on Monday. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. The company’s 50 day moving average price is $286.61 and its two-hundred day moving average price is $266.61. The stock has a market cap of $310.95 billion, a P/E ratio of 56.57, a P/E/G ratio of 2.94 and a beta of 1.29. 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 results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business 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%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.49%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. Sanford C. Bernstein upped their target price on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Cfra set a $343.00 price target on shares of Salesforce in a research report on Thursday, October 17th. FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Truist Financial reiterated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Finally, Canaccord Genuity Group increased their price target on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $322.51.

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.