EULAV Asset Management Decreases Stock Position in Salesforce, Inc. (NYSE:CRM)

EULAV Asset Management lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,006 shares of the CRM provider’s stock after selling 998 shares during the period. EULAV Asset Management’s holdings in Salesforce were worth $12,372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. RBA Wealth Management LLC boosted its holdings in Salesforce by 3.7% in the 3rd quarter. RBA Wealth Management LLC now owns 16,172 shares of the CRM provider’s stock worth $4,426,000 after buying an additional 574 shares during the period. CWM LLC boosted its holdings in shares of Salesforce by 6.6% in the third quarter. CWM LLC now owns 77,140 shares of the CRM provider’s stock worth $21,114,000 after acquiring an additional 4,744 shares during the period. Agate Pass Investment Management LLC purchased a new position in shares of Salesforce in the third quarter valued at $1,370,000. Watts Gwilliam & Co. LLC bought a new stake in shares of Salesforce during the 3rd quarter valued at $1,136,000. Finally, Private Advisory Group LLC lifted its holdings in Salesforce by 1,031.5% during the 3rd quarter. Private Advisory Group LLC now owns 13,488 shares of the CRM provider’s stock worth $3,692,000 after purchasing an additional 12,296 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $325.81 on Friday. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The firm has a market cap of $311.80 billion, a P/E ratio of 53.59, a P/E/G ratio of 3.09 and a beta of 1.31. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $339.05 and a 200-day moving average of $299.87.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to the consensus estimate of $9.35 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.62 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. Salesforce’s dividend payout ratio is 26.32%.

Insider Activity

In related news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total value of $5,019,171.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. This represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,111,420 shares of company stock valued at $384,366,700. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CRM. Cfra set a $343.00 price target on Salesforce in a research report on Thursday, October 17th. DA Davidson upped their target price on shares of Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Truist Financial reissued a “buy” rating and issued a $400.00 price target (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Wedbush reaffirmed an “outperform” rating and issued a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Finally, Needham & Company LLC reissued a “buy” rating and set a $400.00 price objective on shares of Salesforce in a research note on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $377.63.

About Salesforce

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.