Salesforce, Inc. (NYSE:CRM) Shares Sold by Immersion Capital LLP

Immersion Capital LLP trimmed its stake in shares of Salesforce, Inc. (NYSE:CRM) by 22.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,064 shares of the CRM provider’s stock after selling 18,600 shares during the quarter. Salesforce accounts for 9.9% of Immersion Capital LLP’s holdings, making the stock its 5th largest holding. Immersion Capital LLP’s holdings in Salesforce were worth $18,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of CRM. Piscataqua Savings Bank boosted 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 valued at $26,000 after purchasing an additional 96 shares in the last quarter. Infrastructure Capital Advisors LLC purchased a new position in Salesforce during the 3rd quarter worth $27,000. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of 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 buying an additional 125 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Salesforce in the 2nd quarter valued at about $33,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of CRM traded down $1.50 during midday trading on Tuesday, hitting $329.51. 1,489,237 shares of the stock traded hands, compared to its average volume of 6,267,249. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $348.86. The firm has a market capitalization of $315.01 billion, a PE ratio of 57.53, a price-to-earnings-growth ratio of 2.99 and a beta of 1.30. 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’s 50 day moving average price is $302.12 and its two-hundred day moving average price is $270.49.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date was Wednesday, September 18th. Salesforce’s dividend payout ratio (DPR) is 27.83%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CRM. Truist Financial boosted their target price on Salesforce from $315.00 to $380.00 and gave the company a “buy” rating in a report on Monday, November 25th. BMO Capital Markets increased their price target on shares of Salesforce from $305.00 to $385.00 and gave the company an “outperform” rating in a report on Friday, November 15th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $310.00 to $340.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Robert W. Baird raised their target price on shares of Salesforce from $295.00 to $315.00 and gave the company an “outperform” rating in a report on Thursday, August 29th. Finally, Evercore ISI restated an “outperform” rating and set a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $345.31.

Insider Activity

In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The shares were 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 in the company, valued at approximately $15,100,399.70. The trade was a 1.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total transaction of $608,108.04. Following the completion of the sale, the insider now owns 828 shares in the company, valued at approximately $202,702.68. This trade represents a 75.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 140,982 shares of company stock valued at $41,591,457. 3.20% of the stock is currently owned by company insiders.

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.