AIA Group Ltd Boosts Holdings in Salesforce, Inc. (NYSE:CRM)

AIA Group Ltd raised its holdings in Salesforce, Inc. (NYSE:CRM) by 8.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,028 shares of the CRM provider’s stock after purchasing an additional 1,962 shares during the period. AIA Group Ltd’s holdings in Salesforce were worth $6,577,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Duality Advisers LP purchased a new stake in shares of Salesforce in the first quarter valued at $1,280,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Salesforce by 21.7% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 55,819 shares of the CRM provider’s stock valued at $16,811,000 after purchasing an additional 9,941 shares in the last quarter. Wealthspire Advisors LLC boosted its stake in shares of Salesforce by 0.7% during the 1st quarter. Wealthspire Advisors LLC now owns 7,573 shares of the CRM provider’s stock worth $2,281,000 after purchasing an additional 53 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Salesforce during the first quarter worth about $603,000. Finally, PFG Advisors raised its position in shares of Salesforce by 9.2% in the first quarter. PFG Advisors now owns 1,674 shares of the CRM provider’s stock valued at $504,000 after buying an additional 141 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

NYSE:CRM opened at $310.78 on Friday. The firm has a 50-day moving average of $275.30 and a two-hundred day moving average of $263.86. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $297.11 billion, a P/E ratio of 54.05, a PEG ratio of 2.70 and a beta of 1.29. Salesforce, Inc. has a 1-year low of $208.84 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last issued 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 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 the consensus estimate of $9.22 billion. During the same quarter in the prior year, the business posted $1.63 earnings per share. Salesforce’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal 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 issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.51%. Salesforce’s dividend payout ratio is presently 27.83%.

Insider Buying and Selling at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the transaction, the insider now directly owns 117,581 shares in the company, valued at $30,920,275.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Brian Millham sold 60,522 shares of Salesforce stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $300.00, for a total transaction of $18,156,600.00. The disclosure for this sale can be found here. Insiders have sold 148,573 shares of company stock worth $42,319,874 in the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on CRM shares. Wedbush lifted their target price on shares of Salesforce from $315.00 to $325.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. lifted their price objective on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Sanford C. Bernstein lifted their price target on Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Erste Group Bank reiterated a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $313.37.

Salesforce 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.