Gulf International Bank UK Ltd Has $20.86 Million Position in Salesforce, Inc. (NYSE:CRM)

Gulf International Bank UK Ltd reduced its position in Salesforce, Inc. (NYSE:CRM) by 4.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,195 shares of the CRM provider’s stock after selling 3,500 shares during the quarter. Salesforce makes up 0.5% of Gulf International Bank UK Ltd’s portfolio, making the stock its 28th largest holding. Gulf International Bank UK Ltd’s holdings in Salesforce were worth $20,855,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Nvwm LLC boosted its holdings in shares of Salesforce by 1.4% during the 3rd quarter. Nvwm LLC now owns 2,565 shares of the CRM provider’s stock worth $667,000 after purchasing an additional 36 shares during the last quarter. Prentice Wealth Management LLC boosted its holdings in Salesforce by 1.5% during the 3rd quarter. Prentice Wealth Management LLC now owns 2,506 shares of the CRM provider’s stock valued at $686,000 after acquiring an additional 37 shares during the period. Private Wealth Management Group LLC grew its stake in shares of Salesforce by 11.6% in the third quarter. Private Wealth Management Group LLC now owns 357 shares of the CRM provider’s stock worth $98,000 after acquiring an additional 37 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in shares of Salesforce by 0.8% in the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after acquiring an additional 38 shares in the last quarter. Finally, Fulton Bank N.A. boosted its holdings in Salesforce by 0.4% in the third quarter. Fulton Bank N.A. now owns 9,269 shares of the CRM provider’s stock valued at $2,537,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 897 shares of the stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $255,905.13. Following the sale, the chief financial officer now owns 52,930 shares in the company, valued at approximately $15,100,399.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated 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 owns 52,930 shares of the company’s stock, valued at $15,100,399.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 146,003 shares of company stock worth $41,494,084 over the last three months. Company insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CRM shares. TD Cowen lifted their price objective on Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a research note on Thursday, August 29th. Stifel Nicolaus boosted their price target on shares of Salesforce from $320.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, October 28th. DA Davidson increased their price objective on Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Piper Sandler cut Salesforce from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.37.

Salesforce Stock Performance

Salesforce stock opened at $298.01 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a fifty-two week low of $204.69 and a fifty-two week high of $318.71. The firm’s 50 day simple moving average is $273.68 and its 200-day simple moving average is $263.36. The company has a market cap of $284.90 billion, a P/E ratio of 51.83, a price-to-earnings-growth ratio of 2.67 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.20. The company had revenue of $9.33 billion for 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%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $1.63 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Wednesday, September 18th. 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.