Salesforce, Inc. (NYSE:CRM) Stock Position Decreased by Dupont Capital Management Corp

Dupont Capital Management Corp lessened its holdings in shares of Salesforce, Inc. (NYSE:CRMFree Report) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 64,178 shares of the CRM provider’s stock after selling 1,669 shares during the period. Salesforce accounts for approximately 1.5% of Dupont Capital Management Corp’s holdings, making the stock its 17th biggest position. Dupont Capital Management Corp’s holdings in Salesforce were worth $16,888,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Salesforce during the 4th quarter valued at about $1,420,381,000. Moneta Group Investment Advisors LLC boosted its stake in Salesforce by 125,717.4% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 10,260,412 shares of the CRM provider’s stock valued at $1,360,428,000 after purchasing an additional 10,252,257 shares during the period. Starboard Value LP acquired a new position in Salesforce during the 4th quarter valued at about $401,215,000. Barclays PLC boosted its stake in Salesforce by 99.7% during the 2nd quarter. Barclays PLC now owns 3,196,861 shares of the CRM provider’s stock valued at $675,370,000 after purchasing an additional 1,595,733 shares during the period. Finally, Nuveen Asset Management LLC boosted its stake in Salesforce by 11.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,925,118 shares of the CRM provider’s stock valued at $2,096,780,000 after purchasing an additional 1,026,380 shares during the period. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the subject of a number of research analyst reports. Bank of America upped their price target on shares of Salesforce from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. JMP Securities upped their price target on shares of Salesforce from $293.00 to $342.00 and gave the stock a “market outperform” rating in a research note on Thursday, February 29th. Royal Bank of Canada upped their price target on shares of Salesforce from $285.00 to $325.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Stifel Nicolaus upped their price target on shares of Salesforce from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Finally, TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a research note on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $304.32.

View Our Latest Stock Analysis on Salesforce

Salesforce Trading Up 0.6 %

Shares of Salesforce stock opened at $304.02 on Wednesday. The business has a fifty day simple moving average of $295.56 and a two-hundred day simple moving average of $254.02. Salesforce, Inc. has a 1 year low of $187.31 and a 1 year high of $318.71. The company has a market capitalization of $294.90 billion, a price-to-earnings ratio of 72.39, a P/E/G ratio of 2.32 and a beta of 1.28. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09.

Salesforce (NYSE:CRMGet Free Report) last announced its quarterly earnings results 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. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The business had revenue of $9.29 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. Research analysts forecast that Salesforce, Inc. will post 7.45 EPS for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date is Wednesday, March 13th. Salesforce’s dividend payout ratio is currently 9.52%.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $301.72, for a total value of $4,525,800.00. Following the completion of the transaction, the chief executive officer now owns 13,011,166 shares of the company’s stock, valued at $3,925,729,005.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 293,965 shares of Salesforce stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $280.00, for a total value of $82,310,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $301.72, for a total value of $4,525,800.00. Following the completion of the transaction, the chief executive officer now owns 13,011,166 shares in the company, valued at approximately $3,925,729,005.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 913,175 shares of company stock valued at $261,391,996. 3.70% of the stock is currently owned by corporate insiders.

About Salesforce

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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