International Assets Investment Management LLC Has $1.11 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

International Assets Investment Management LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 99.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,351 shares of the CRM provider’s stock after selling 999,497 shares during the quarter. International Assets Investment Management LLC’s holdings in Salesforce were worth $1,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CRM. State Street Corp lifted its position in shares of Salesforce by 1.8% in the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock worth $13,432,855,000 after acquiring an additional 864,193 shares during the period. Geode Capital Management LLC lifted its position in Salesforce by 1.3% in the third quarter. Geode Capital Management LLC now owns 19,780,318 shares of the CRM provider’s stock worth $5,395,132,000 after purchasing an additional 257,501 shares during the period. Fisher Asset Management LLC boosted its stake in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after buying an additional 314,530 shares in the last quarter. Legal & General Group Plc increased its holdings in Salesforce by 2.2% in the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock valued at $2,141,562,000 after buying an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Salesforce by 1.0% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock valued at $1,632,599,000 after buying an additional 57,825 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Trading Up 0.5 %

Shares of NYSE CRM opened at $326.67 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The company’s fifty day moving average is $335.36 and its 200-day moving average is $288.53. The stock has a market cap of $312.62 billion, a price-to-earnings ratio of 53.73, a P/E/G ratio of 3.21 and a beta of 1.30.

Salesforce (NYSE:CRM) last posted its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period in the previous year, the firm posted $1.62 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. Equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid 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, December 18th. Salesforce’s payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

CRM has been the topic of a number of analyst reports. TD Cowen upped their target price on shares of Salesforce from $290.00 to $340.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. DA Davidson increased their target price on Salesforce from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. KeyCorp upgraded Salesforce from a “sector weight” rating to an “overweight” rating and set a $440.00 price target on the stock in a research report on Friday, December 13th. The Goldman Sachs Group lifted their price objective on Salesforce from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, December 4th. Finally, Bank of America upped their target price on shares of Salesforce from $390.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, thirty have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $376.05.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the completion of the transaction, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This represents a 1.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $117,824.77. Following the completion of the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,181,817 shares of company stock valued at $404,760,429 over the last quarter. Corporate insiders own 3.20% of the company’s stock.

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.