EULAV Asset Management Sells 52,401 Shares of Salesforce, Inc. (NYSE:CRM)

EULAV Asset Management trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 58.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,004 shares of the CRM provider’s stock after selling 52,401 shares during the period. EULAV Asset Management’s holdings in Salesforce were worth $10,402,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CRM. Bessemer Group Inc. lifted its holdings in Salesforce by 103.5% in the first quarter. Bessemer Group Inc. now owns 54,761 shares of the CRM provider’s stock worth $16,494,000 after buying an additional 27,850 shares during the period. Sax Wealth Advisors LLC bought a new stake in Salesforce in the 1st quarter worth approximately $233,000. CreativeOne Wealth LLC increased its position in Salesforce by 180.6% during the first quarter. CreativeOne Wealth LLC now owns 7,520 shares of the CRM provider’s stock valued at $2,265,000 after acquiring an additional 4,840 shares during the last quarter. EP Wealth Advisors LLC increased its holdings in Salesforce by 20.8% during the first quarter. EP Wealth Advisors LLC now owns 26,451 shares of the CRM provider’s stock valued at $7,967,000 after buying an additional 4,553 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its position in Salesforce by 21.4% during the first quarter. Axxcess Wealth Management LLC now owns 13,954 shares of the CRM provider’s stock valued at $4,203,000 after purchasing an additional 2,461 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 0.3 %

Shares of CRM opened at $323.29 on Wednesday. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a 50 day moving average price of $289.68 and a 200 day moving average price of $267.31. The stock has a market capitalization of $309.07 billion, a price-to-earnings ratio of 56.22, a PEG ratio of 2.94 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same period in the prior year, the business earned $1.63 earnings per share. The business’s revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CRM shares. Truist Financial reaffirmed a “buy” rating and set a $315.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. TD Cowen lifted their price objective on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. Oppenheimer restated an “outperform” rating and set a $330.00 price target (up previously from $300.00) on shares of Salesforce in a report on Thursday, October 24th. Cfra set a $343.00 price objective on shares of Salesforce in a research report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their target price on Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 12th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.19.

Insider Buying and Selling at Salesforce

In other Salesforce news, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total value of $18,156,600.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $298.04, for a total value of $1,251,768.00. Following the transaction, the insider now owns 119,402 shares in the company, valued at $35,586,572.08. This trade represents a 3.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 140,173 shares of company stock valued at $40,146,206 over the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Company 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.