Mizuho Markets Cayman LP Has $201,000 Stock Position in Salesforce, Inc. (NYSE:CRM)

Mizuho Markets Cayman LP cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 25.9% in the third quarter, HoldingsChannel reports. The fund owned 736 shares of the CRM provider’s stock after selling 257 shares during the quarter. Salesforce accounts for 0.8% of Mizuho Markets Cayman LP’s portfolio, making the stock its 18th biggest holding. Mizuho Markets Cayman LP’s holdings in Salesforce were worth $201,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CRM. M&G Plc purchased a new position in Salesforce in the first quarter valued at about $2,178,000. First Foundation Advisors raised its position in Salesforce by 38.0% during the first quarter. First Foundation Advisors now owns 828 shares of the CRM provider’s stock valued at $249,000 after acquiring an additional 228 shares in the last quarter. Spirepoint Private Client LLC acquired a new stake in Salesforce in the first quarter valued at approximately $345,000. Blue Barn Wealth LLC grew its position in Salesforce by 1.8% in the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after acquiring an additional 39 shares in the last quarter. Finally, Strait & Sound Wealth Management LLC increased its stake in shares of Salesforce by 3.3% during the 1st quarter. Strait & Sound Wealth Management LLC now owns 2,883 shares of the CRM provider’s stock worth $863,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. The trade was a 3.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total value of $255,905.13. Following the sale, the chief financial officer now directly owns 52,930 shares of the company’s stock, valued at approximately $15,100,399.70. This trade represents a 1.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,373 shares of company stock valued at $41,250,680 over the last 90 days. 3.20% of the stock is owned by company insiders.

Salesforce Stock Down 1.9 %

Shares of NYSE CRM opened at $325.28 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $348.86. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The business has a fifty day moving average of $286.61 and a two-hundred day moving average of $266.64. The stock has a market cap of $310.96 billion, a PE ratio of 56.57, a PEG ratio of 3.09 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the business earned $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. As a group, equities research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were given a dividend of $0.40 per share. 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 0.49%. Salesforce’s payout ratio is currently 27.83%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CRM. Morgan Stanley upped their price objective on shares of Salesforce from $320.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. increased their price objective on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Truist Financial restated a “buy” rating and issued a $315.00 target price (up from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Raymond James increased their price target on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $322.51.

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.