Salesforce, Inc. (NYSE:CRM) Shares Bought by K.J. Harrison & Partners Inc

K.J. Harrison & Partners Inc increased its position in Salesforce, Inc. (NYSE:CRM) by 60.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 8,000 shares of the CRM provider’s stock after acquiring an additional 3,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Salesforce were worth $2,645,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRM. Foundations Investment Advisors LLC grew its stake in shares of Salesforce by 15.0% in the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after purchasing an additional 4,752 shares during the last quarter. Nabity Jensen Investment Management Inc bought a new stake in Salesforce during the third quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC grew its position in Salesforce by 13.6% in the third quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after buying an additional 6,938 shares during the last quarter. Aljian Capital Management LLC increased its holdings in shares of Salesforce by 16.1% in the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock valued at $3,629,000 after buying an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd increased its holdings in shares of Salesforce by 8.9% in the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after buying an additional 1,962 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of NYSE CRM opened at $307.19 on Thursday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $369.00. The company has a market cap of $293.98 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.58 and a beta of 1.31. The business’s 50 day moving average is $330.86 and its two-hundred day moving average is $306.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same period last year, the firm posted $1.62 EPS. The company’s revenue was up 8.3% compared to the same quarter last year. On average, equities analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is presently 26.32%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRM. Robert W. Baird lifted their target price on Salesforce from $340.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Scotiabank lifted their price target on Salesforce from $425.00 to $440.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Jefferies Financial Group upped their price objective on shares of Salesforce from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $380.00) on shares of Salesforce in a report on Wednesday, December 4th. Finally, JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $374.47.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $328.18, for a total value of $2,041,607.78. Following the completion of the transaction, the chief financial officer now owns 46,750 shares of the company’s stock, valued at $15,342,415. This represents a 11.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 458 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $307.97, for a total transaction of $141,050.26. Following the transaction, the insider now owns 5,864 shares of the company’s stock, valued at approximately $1,805,936.08. This represents a 7.24 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,102,572 shares of company stock worth $381,283,706. 3.20% of the stock is owned by corporate insiders.

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.