MayTech Global Investments LLC Has $33.35 Million Stock Position in Salesforce, Inc. (NYSE:CRM)

MayTech Global Investments LLC lifted its position in shares of Salesforce, Inc. (NYSE:CRM) by 18.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,831 shares of the CRM provider’s stock after purchasing an additional 18,961 shares during the period. Salesforce accounts for approximately 4.4% of MayTech Global Investments LLC’s investment portfolio, making the stock its 9th biggest holding. MayTech Global Investments LLC’s holdings in Salesforce were worth $33,346,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Piscataqua Savings Bank lifted its holdings in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares in the last quarter. Clear Investment Research LLC increased its position in Salesforce by 816.7% during the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after acquiring an additional 98 shares during the period. Godsey & Gibb Inc. raised its stake in Salesforce by 300.0% in the 3rd quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in Salesforce in the 2nd quarter valued at about $33,000. Finally, Stephens Consulting LLC grew its position in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $330.01 on Thursday. The company has a market capitalization of $315.49 billion, a P/E ratio of 57.39, a PEG ratio of 3.07 and a beta of 1.29. The company has a fifty day moving average price of $299.57 and a 200-day moving average price of $269.87. 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, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86.

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 the consensus estimate of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 EPS. As a group, equities analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend was Wednesday, September 18th. Salesforce’s payout ratio is presently 27.83%.

Insider Buying and Selling at Salesforce

In related news, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares of the company’s stock, valued at $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 719 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the transaction, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. This trade represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 144,510 shares of company stock valued at $42,475,538. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRM. Piper Sandler downgraded shares of Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 2nd. Sanford C. Bernstein upped their target price on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. Northland Securities raised Salesforce from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $270.00 to $400.00 in a report on Wednesday, October 2nd. Finally, UBS Group boosted their price target on Salesforce from $275.00 to $360.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.89.

About Salesforce

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.