Banco Santander S.A. Has $44.25 Million Stake in Salesforce, Inc. (NYSE:CRM)

Banco Santander S.A. reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 13.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,677 shares of the CRM provider’s stock after selling 24,935 shares during the quarter. Salesforce accounts for about 0.5% of Banco Santander S.A.’s holdings, making the stock its 26th biggest position. Banco Santander S.A.’s holdings in Salesforce were worth $44,253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CRM. Piscataqua Savings Bank increased its position 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 buying an additional 96 shares during the period. Clear Investment Research LLC raised its position in Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC boosted its holdings in Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 125 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of Salesforce in the second quarter worth approximately $33,000. Finally, Godsey & Gibb Inc. increased its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 90 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 3,970 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the transaction, the insider now owns 119,402 shares in the company, valued at approximately $35,431,349.48. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $290.23, for a total transaction of $145,115.00. Following the sale, the chief accounting officer now directly owns 6,506 shares of the company’s stock, valued at $1,888,236.38. This trade represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 136,117 shares of company stock valued at $39,085,562. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $331.95 on Thursday. The firm has a market capitalization of $317.34 billion, a price-to-earnings ratio of 56.64, a PEG ratio of 2.93 and a beta of 1.29. The stock has a fifty day moving average of $291.21 and a 200 day moving average of $267.72. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $348.86. 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 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 analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $1.63 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Ratings Changes

CRM has been the topic of several recent research reports. TD Cowen upped their price target on Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research note on Thursday, August 29th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Raymond James lifted their price objective on shares of Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. UBS Group raised their target price on Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Finally, Jefferies Financial Group raised their price target on shares of Salesforce from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Eight research analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $326.19.

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.