Salesforce, Inc. (NYSE:CRM) Shares Acquired by Next Capital Management LLC

Next Capital Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM) by 85.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,401 shares of the CRM provider’s stock after buying an additional 1,109 shares during the quarter. Next Capital Management LLC’s holdings in Salesforce were worth $617,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CRM. Capital International Investors lifted its stake in Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares during the last quarter. Capital Research Global Investors lifted its position in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. GQG Partners LLC acquired a new position in shares of Salesforce in the 1st quarter valued at about $910,220,000. Swedbank AB bought a new stake in shares of Salesforce during the 1st quarter valued at about $874,748,000. Finally, Coatue Management LLC acquired a new stake in Salesforce during the fourth quarter worth about $564,188,000. Institutional investors own 80.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CRM. Truist Financial reaffirmed a “buy” rating and set a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. UBS Group boosted their price target on shares of Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Oppenheimer upped their price target on shares of Salesforce from $280.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Morgan Stanley boosted their target price on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Finally, Loop Capital reiterated a “hold” rating and set a $270.00 price objective on shares of Salesforce in a research report on Thursday, September 19th. Eight analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $308.03.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at approximately $28,362,888.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total transaction of $675,416.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maynard G. Webb, Jr. sold 9,170 shares of the company’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $276.32, for a total transaction of $2,533,854.40. Following the completion of the sale, the director now owns 1,363 shares of the company’s stock, valued at $376,624.16. The disclosure for this sale can be found here. Insiders have sold 72,185 shares of company stock worth $18,708,571 over the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.3 %

Shares of NYSE CRM opened at $276.64 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The business has a 50-day moving average price of $256.26 and a two-hundred day moving average price of $265.02. The firm has a market capitalization of $268.06 billion, a PE ratio of 49.76, a PEG ratio of 2.39 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, analysts predict that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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 given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.58%. Salesforce’s payout ratio is 28.78%.

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.