Chevy Chase Trust Holdings LLC Sells 17,974 Shares of Salesforce, Inc. (NYSE:CRM)

Chevy Chase Trust Holdings LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 3.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 503,869 shares of the CRM provider’s stock after selling 17,974 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Salesforce worth $168,459,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC lifted its position in shares of Salesforce by 15.0% during the 4th quarter. Foundations Investment Advisors LLC now owns 36,473 shares of the CRM provider’s stock worth $12,194,000 after buying an additional 4,752 shares in the last quarter. Nabity Jensen Investment Management Inc bought a new position in shares of Salesforce during the 3rd quarter worth approximately $1,215,000. Prime Capital Investment Advisors LLC lifted its position in shares of Salesforce by 13.6% during the 3rd 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 in the last quarter. Aljian Capital Management LLC lifted its position in shares of Salesforce by 16.1% during the 3rd quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after buying an additional 1,834 shares in the last quarter. Finally, AIA Group Ltd lifted its position in shares of Salesforce by 8.9% during the 3rd quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock worth $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

NYSE CRM opened at $330.19 on Friday. Salesforce, Inc. has a 52-week low of $212.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $315.99 billion, a P/E ratio of 54.31, a P/E/G ratio of 2.66 and a beta of 1.31. The company has a fifty day moving average of $337.91 and a 200-day moving average of $302.13.

Salesforce (NYSE:CRM) last posted its quarterly earnings data 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 in the prior year, the firm posted $1.62 earnings per share. The business’s revenue was up 8.3% on a year-over-year basis. As a group, equities research analysts predict that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio is currently 26.32%.

Wall Street Analysts Forecast Growth

Several research firms have commented on CRM. Canaccord Genuity Group lifted their target price on shares of Salesforce from $315.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, December 4th. JMP Securities restated a “market outperform” rating and set a $450.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Wells Fargo & Company raised their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 12th. Truist Financial restated a “buy” rating and set a $400.00 price target (up previously from $380.00) on shares of Salesforce in a research note on Wednesday, December 4th. Finally, The Goldman Sachs Group raised their price target on shares of Salesforce from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $377.63.

Insider Transactions at Salesforce

In other Salesforce news, Director G Mason Morfit sold 722,300 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the completion of the sale, the director now directly owns 3,192,009 shares of the company’s stock, valued at $1,104,786,234.99. The trade was a 18.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 436 shares of the business’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,111,420 shares of company stock valued at $384,366,700. Insiders own 3.20% of the company’s stock.

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.