Salesforce Inc. (NYSE:CRM) Shares Acquired by Alecta Tjanstepension Omsesidigt

Alecta Tjanstepension Omsesidigt lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 121.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 355,000 shares of the CRM provider's stock after acquiring an additional 195,000 shares during the quarter. Alecta Tjanstepension Omsesidigt's holdings in Salesforce were worth $95,222,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Seven Mile Advisory raised its holdings in shares of Salesforce by 2.3% during the 4th quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after buying an additional 39 shares in the last quarter. Liberty One Investment Management LLC raised its position in Salesforce by 1.2% in the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after purchasing an additional 39 shares during the period. First Command Advisory Services Inc. lifted its stake in Salesforce by 7.3% in the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after purchasing an additional 39 shares during the last quarter. Clarity Wealth Advisors LLC boosted its position in Salesforce by 2.3% during the first quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock valued at $472,000 after buying an additional 40 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Salesforce by 5.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock valued at $218,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Analysts Set New Price Targets

Several analysts recently weighed in on CRM shares. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $275.00 price target on shares of Salesforce in a report on Monday, July 14th. Mizuho cut their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Jefferies Financial Group cut their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Piper Sandler lifted their price target on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, May 28th. Finally, JMP Securities restated a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a report on Friday, July 11th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $348.16.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total transaction of $613,080.00. Following the transaction, the chief executive officer owned 11,862,457 shares in the company, valued at $3,232,282,283.36. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider directly owned 41,422 shares of the company's stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,069 shares of company stock valued at $9,698,893. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 0.4%

CRM stock traded up $1.08 during mid-day trading on Tuesday, reaching $263.36. The company had a trading volume of 1,839,810 shares, compared to its average volume of 6,546,036. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $251.77 billion, a price-to-earnings ratio of 41.22, a price-to-earnings-growth ratio of 2.38 and a beta of 1.36. The firm has a fifty day simple moving average of $270.45 and a 200 day simple moving average of $285.85. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the business posted $2.44 EPS. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. Analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. Salesforce's dividend payout ratio is currently 25.98%.

Salesforce Company 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.

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