Salesforce, Inc. (NYSE:CRM) is Novo Holdings A S’s 7th Largest Position

Novo Holdings A S lessened its position in shares of Salesforce, Inc. (NYSE:CRM) by 23.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 368,560 shares of the CRM provider’s stock after selling 111,600 shares during the period. Salesforce comprises 5.0% of Novo Holdings A S’s investment portfolio, making the stock its 7th biggest holding. Novo Holdings A S’s holdings in Salesforce were worth $100,879,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CRM. Vanguard Group Inc. boosted its stake in Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after acquiring an additional 1,008,841 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. Capital International Investors raised its holdings in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock valued at $4,251,592,000 after buying an additional 407,834 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Salesforce by 2.2% in the second 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 last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Salesforce by 48.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock valued at $1,518,658,000 after buying an additional 1,922,674 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 value of $675,416.00. Following the transaction, the insider now owns 117,581 shares of the company’s stock, valued at approximately $28,362,888.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Brian Millham sold 969 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $286.56, for a total transaction of $277,676.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 87,781 shares of company stock valued at $23,696,593. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Thursday, September 19th. Loop Capital reaffirmed a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Wells Fargo & Company upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, August 29th. Stifel Nicolaus upped their target price on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Finally, Truist Financial reissued a “buy” rating and set a $315.00 price target (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $312.51.

Salesforce Stock Up 1.3 %

Shares of NYSE CRM opened at $290.46 on Friday. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The firm’s 50 day moving average price is $269.73 and its 200 day moving average price is $263.05. The firm has a market cap of $281.46 billion, a P/E ratio of 52.24, a price-to-earnings-growth ratio of 2.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. Salesforce’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business earned $1.63 earnings per share. As a group, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 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.