Aureus Asset Management LLC Has $36.78 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Aureus Asset Management LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 134,376 shares of the CRM provider’s stock after selling 1,182 shares during the quarter. Salesforce accounts for approximately 2.4% of Aureus Asset Management LLC’s holdings, making the stock its 15th largest holding. Aureus Asset Management LLC’s holdings in Salesforce were worth $36,780,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Piscataqua Savings Bank raised its stake in shares of Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after purchasing an additional 96 shares during the period. Infrastructure Capital Advisors LLC acquired a new stake in shares of Salesforce in the 3rd quarter valued at about $27,000. Clear Investment Research LLC raised its stake in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after purchasing an additional 98 shares during the period. Stephens Consulting LLC raised its stake in shares of Salesforce by 3,125.0% in the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of Salesforce in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the transaction, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. The trade was a 5.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 60,522 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,510 shares of company stock worth $42,475,538. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Wells Fargo & Company lifted their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 12th. Citigroup raised their price objective on Salesforce from $290.00 to $368.00 and gave the company a “neutral” rating in a report on Wednesday, November 27th. Phillip Securities restated an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Truist Financial raised their price objective on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a report on Monday, November 25th. Finally, JMP Securities raised their price objective on Salesforce from $342.00 to $450.00 and gave the company a “market outperform” rating in a report on Friday, November 22nd. Eight analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $341.89.

Salesforce Stock Down 0.0 %

NYSE CRM opened at $329.99 on Monday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The company has a 50 day moving average of $302.12 and a 200-day moving average of $270.49. The company has a market cap of $315.47 billion, a price-to-earnings ratio of 57.39, a PEG ratio of 2.99 and a beta of 1.29.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. Salesforce’s payout ratio is 27.83%.

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.