Salesforce, Inc. (NYSE:CRM) Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. cut its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 72.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,352 shares of the CRM provider's stock after selling 8,799 shares during the period. Machina Capital S.A.S.'s holdings in Salesforce were worth $882,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Veracity Capital LLC purchased a new position in Salesforce in the 3rd quarter worth approximately $214,000. Beacon Financial Advisory LLC increased its stake in Salesforce by 15.9% in the third quarter. Beacon Financial Advisory LLC now owns 1,554 shares of the CRM provider's stock valued at $315,000 after acquiring an additional 213 shares during the last quarter. Concord Wealth Partners increased its stake in Salesforce by 145.4% in the third quarter. Concord Wealth Partners now owns 3,060 shares of the CRM provider's stock valued at $621,000 after acquiring an additional 1,813 shares during the last quarter. Everhart Financial Group Inc. raised its position in Salesforce by 6.3% during the third quarter. Everhart Financial Group Inc. now owns 3,600 shares of the CRM provider's stock valued at $730,000 after purchasing an additional 212 shares in the last quarter. Finally, Hixon Zuercher LLC lifted its stake in Salesforce by 5.4% during the third quarter. Hixon Zuercher LLC now owns 13,635 shares of the CRM provider's stock worth $2,765,000 after purchasing an additional 698 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 24,453 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total value of $7,386,762.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Marc Benioff sold 15,000 shares of the business's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $288.30, for a total value of $4,324,500.00. Following the completion of the sale, the chief executive officer now owns 13,551,166 shares in the company, valued at approximately $3,906,801,157.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 24,453 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $302.08, for a total transaction of $7,386,762.24. The disclosure for this sale can be found here. Insiders sold 634,993 shares of company stock worth $185,373,074 in the last three months. Corporate insiders own 3.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CRM. KeyCorp started coverage on Salesforce in a report on Thursday, March 21st. They set a "sector weight" rating on the stock. Wells Fargo & Company increased their target price on shares of Salesforce from $280.00 to $290.00 and gave the company an "equal weight" rating in a report on Wednesday, February 21st. Truist Financial reissued a "buy" rating and issued a $360.00 price target (up from $275.00) on shares of Salesforce in a research note on Thursday, February 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $350.00 price objective (up previously from $325.00) on shares of Salesforce in a report on Friday, April 12th. Finally, Mizuho restated a "buy" rating and set a $345.00 target price (up from $325.00) on shares of Salesforce in a report on Thursday, February 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $310.61.

Salesforce Stock Up 0.6 %

Salesforce stock traded up $1.58 during trading hours on Tuesday, hitting $277.21. The stock had a trading volume of 3,507,109 shares, compared to its average volume of 5,527,244. The stock's 50-day moving average price is $293.29 and its 200-day moving average price is $267.99. The stock has a market capitalization of $268.34 billion, a P/E ratio of 66.00, a price-to-earnings-growth ratio of 2.10 and a beta of 1.30. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts' expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The firm's quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. Equities research analysts anticipate that Salesforce, Inc. will post 7.45 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Wednesday, March 13th. Salesforce's dividend payout ratio is presently 9.52%.

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.