122,091 Salesforce Inc. $CRM Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 33.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,920 shares of the CRM provider's stock after selling 122,091 shares during the period. Eurizon Capital SGR S.p.A.'s holdings in Salesforce were worth $54,868,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Latitude Advisors LLC bought a new stake in shares of Salesforce in the 3rd quarter valued at $25,000. ABS Investment Management LLC acquired a new position in shares of Salesforce during the second quarter valued at about $610,974,000. ABS Direct Equity Fund LLC bought a new position in shares of Salesforce during the 2nd quarter worth about $25,000. Manning & Napier Advisors LLC bought a new position in shares of Salesforce during the 2nd quarter worth about $26,000. Finally, Persistent Asset Partners Ltd acquired a new stake in shares of Salesforce in the 2nd quarter valued at about $27,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 0.0%

Shares of CRM stock opened at $217.66 on Friday. The company's fifty day simple moving average is $235.27 and its two-hundred day simple moving average is $198.36. Salesforce Inc. has a 52 week low of $146.32 and a 52 week high of $269.11. The stock has a market cap of $179.13 billion, a P/E ratio of 19.84, a PEG ratio of 0.99 and a beta of 1.24. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt-to-equity ratio of 1.02.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, August 26th. The CRM provider reported $5.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $2.63. The firm had revenue of $11.35 billion for the quarter, compared to analysts' expectations of $11.33 billion. Salesforce had a return on equity of 24.90% and a net margin of 21.99%. The business's revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.91 earnings per share. Salesforce has set its FY 2027 guidance at 16.670-16.710 EPS and its Q3 2027 guidance at 3.420-3.440 EPS. Analysts predict that Salesforce Inc. will post 12.82 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $0.44 per share. The ex-dividend date was Thursday, September 17th. This represents a $1.76 dividend on an annualized basis and a yield of 0.8%. Salesforce's payout ratio is 16.04%.

Analyst Ratings Changes

Several analysts have commented on the company. TD Cowen started coverage on Salesforce in a research note on Monday, October 12th. They set a "buy" rating on the stock. Citigroup restated a "market outperform" rating on shares of Salesforce in a research note on Tuesday, October 20th. Guggenheim lifted their price objective on Salesforce from $270.00 to $300.00 and gave the stock a "buy" rating in a report on Thursday, September 17th. Yorkville Ives assumed coverage on Salesforce in a research report on Monday, October 5th. They set an "outperform" rating and a $290.00 price objective for the company. Finally, Freedom Broker increased their price target on shares of Salesforce from $230.00 to $295.00 and gave the stock a "buy" rating in a research report on Thursday, September 17th. Four research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $278.98.

Insiders Place Their Bets

In other news, Director David Blair Kirk purchased 4,176 shares of the company's stock in a transaction that occurred on Friday, September 18th. The stock was purchased at an average cost of $239.33 per share, with a total value of $999,442.08. Following the purchase, the director owned 18,748 shares in the company, valued at approximately $4,486,958.84. This trade represents a 28.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Craig Conway sold 4,500 shares of the stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $260.61, for a total value of $1,172,745.00. Following the completion of the sale, the director owned 5,437 shares in the company, valued at approximately $1,416,936.57. The trade was a 45.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 3.50% of the company's stock.

About Salesforce

Salesforce, Inc. is a cloud-based software company best known for customer relationship management (CRM) tools. Its platform helps businesses manage sales, customer service, marketing, commerce and customer data, and includes products such as Sales Cloud, Service Cloud, Data Cloud and Agentforce. The company also offers Slack for workplace collaboration, Tableau for data analytics and visualization, and MuleSoft for connecting applications and data. Salesforce's products are used by organizations across a range of industries and are available to customers around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.