Salesforce, Inc. (NYSE:CRM) Shares Sold by Thames Capital Management LLC

Thames Capital Management LLC reduced its stake in Salesforce, Inc. (NYSE:CRM) by 21.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,055 shares of the CRM provider’s stock after selling 9,503 shares during the period. Salesforce makes up about 3.4% of Thames Capital Management LLC’s holdings, making the stock its 16th largest holding. Thames Capital Management LLC’s holdings in Salesforce were worth $8,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Columbus Hill Capital Management L.P. raised its position in Salesforce by 87.6% in the 2nd quarter. Columbus Hill Capital Management L.P. now owns 73,759 shares of the CRM provider’s stock valued at $18,963,000 after purchasing an additional 34,435 shares in the last quarter. Garden State Investment Advisory Services LLC raised its holdings in Salesforce by 9.2% in the second quarter. Garden State Investment Advisory Services LLC now owns 2,557 shares of the CRM provider’s stock valued at $658,000 after acquiring an additional 216 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Salesforce by 14.5% in the second quarter. Pacer Advisors Inc. now owns 96,205 shares of the CRM provider’s stock worth $24,734,000 after acquiring an additional 12,193 shares during the last quarter. AE Wealth Management LLC grew its holdings in Salesforce by 1.1% during the 2nd quarter. AE Wealth Management LLC now owns 150,790 shares of the CRM provider’s stock worth $38,768,000 after acquiring an additional 1,628 shares in the last quarter. Finally, Beaton Management Co. Inc. grew its holdings in Salesforce by 2.9% during the 2nd quarter. Beaton Management Co. Inc. now owns 1,575 shares of the CRM provider’s stock worth $405,000 after acquiring an additional 44 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Up 0.2 %

CRM opened at $266.57 on Friday. The business has a 50 day simple moving average of $254.14 and a 200-day simple moving average of $266.67. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The stock has a market capitalization of $258.31 billion, a P/E ratio of 47.94, a P/E/G ratio of 2.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04.

Salesforce (NYSE:CRM) last released its earnings results 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 return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the company earned $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is currently 28.78%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Truist Financial restated a “buy” rating and issued a $315.00 price objective (up from $300.00) on shares of Salesforce in a report on Thursday. Roth Mkm reaffirmed a “buy” rating and set a $335.00 price target on shares of Salesforce in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research note on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $306.00.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 2,800 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Parker Harris sold 2,800 shares of Salesforce stock in a transaction on 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 transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now owns 828 shares in the company, valued at $202,702.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,576 shares of company stock valued at $16,957,573. Corporate insiders own 3.20% of the company’s stock.

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.