J. Safra Sarasin Holding AG Purchases 6,095 Shares of Salesforce, Inc. (NYSE:CRM)

J. Safra Sarasin Holding AG lifted its holdings in Salesforce, Inc. (NYSE:CRM) by 15.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,340 shares of the CRM provider’s stock after acquiring an additional 6,095 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Salesforce were worth $14,826,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nvest Financial LLC lifted its stake in Salesforce by 1.1% in the 4th quarter. Nvest Financial LLC now owns 2,806 shares of the CRM provider’s stock worth $938,000 after purchasing an additional 31 shares in the last quarter. OMC Financial Services LTD boosted its stake in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock valued at $3,808,000 after buying an additional 31 shares during the period. Capital Advisors Ltd. LLC grew its position in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after buying an additional 31 shares in the last quarter. Sachetta LLC raised its holdings in shares of Salesforce by 0.3% in the 4th quarter. Sachetta LLC now owns 11,018 shares of the CRM provider’s stock valued at $3,684,000 after acquiring an additional 32 shares in the last quarter. Finally, Prossimo Advisors LLC grew its holdings in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CRM. Morgan Stanley cut their price target on shares of Salesforce from $405.00 to $393.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Piper Sandler restated an “overweight” rating on shares of Salesforce in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a report on Thursday, February 27th. Finally, Macquarie reissued a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have assigned a buy rating and five have issued a strong buy rating to the company. According to MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $360.32.

Salesforce Trading Down 1.2 %

NYSE CRM opened at $246.93 on Monday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $281.23 and its 200-day moving average price is $309.80. The stock has a market cap of $237.30 billion, a P/E ratio of 40.61, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This is a boost from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.68%. Salesforce’s payout ratio is 26.10%.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the transaction, the chief accounting officer now owns 7,057 shares in the company, valued at $2,344,899.96. The trade was a 5.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,654 shares of company stock worth $14,124,094 over the last 90 days. 3.20% of the stock is currently owned by insiders.

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.