Penserra Capital Management LLC Increases Stake in Salesforce, Inc. (NYSE:CRM)

Penserra Capital Management LLC boosted its stake in Salesforce, Inc. (NYSE:CRM) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,825 shares of the CRM provider’s stock after buying an additional 105 shares during the period. Penserra Capital Management LLC’s holdings in Salesforce were worth $2,415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CRM. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares in the last quarter. Clear Investment Research LLC increased 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 worth $28,000 after acquiring an additional 98 shares in the last quarter. Stephens Consulting LLC boosted its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 125 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new stake in Salesforce in the second quarter worth about $33,000. Finally, Godsey & Gibb Inc. grew its holdings in Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 90 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was 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 owns 7,006 shares in the company, valued at $1,998,741.74. This trade represents a 5.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares in the company, valued at approximately $1,597,151.79. The trade was a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,510 shares of company stock valued at $42,475,538. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Oppenheimer restated an “outperform” rating and issued a $385.00 price target (up previously from $330.00) on shares of Salesforce in a research note on Thursday, November 21st. Wells Fargo & Company raised their price target on Salesforce from $275.00 to $330.00 and gave the company an “equal weight” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on shares of Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Piper Sandler cut shares of Salesforce from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, DA Davidson increased their price target on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $339.66.

Salesforce Trading Down 0.8 %

Shares of Salesforce stock opened at $339.12 on Tuesday. Salesforce, Inc. has a fifty-two week low of $212.00 and a fifty-two 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 company has a market capitalization of $324.20 billion, a P/E ratio of 58.98, a P/E/G ratio of 3.10 and a beta of 1.29. The company has a fifty day moving average of $296.26 and a 200 day moving average of $268.98.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were given a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio is 27.83%.

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.