Salesforce, Inc. (NYSE:CRM) Shares Purchased by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 0.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 570,548 shares of the CRM provider’s stock after acquiring an additional 190 shares during the period. Rockefeller Capital Management L.P. owned about 0.06% of Salesforce worth $156,208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Prime Capital Investment Advisors LLC boosted its holdings 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 purchasing an additional 6,938 shares during the period. Aljian Capital Management LLC raised its stake in Salesforce by 16.1% during the third quarter. Aljian Capital Management LLC now owns 13,258 shares of the CRM provider’s stock worth $3,629,000 after acquiring an additional 1,834 shares during the period. AIA Group Ltd grew its holdings in shares of Salesforce by 8.9% during the third quarter. AIA Group Ltd now owns 24,028 shares of the CRM provider’s stock valued at $6,577,000 after purchasing an additional 1,962 shares during the last quarter. Harvest Portfolios Group Inc. lifted its stake in Salesforce by 13.6% in the third quarter. Harvest Portfolios Group Inc. now owns 89,098 shares of the CRM provider’s stock valued at $24,387,000 after buying an additional 10,656 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. bought a new position in Salesforce in the 3rd quarter worth approximately $3,672,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Stock Down 3.8 %

Shares of CRM opened at $330.01 on Friday. Salesforce, Inc. has a 12 month low of $212.00 and a 12 month high of $348.86. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $300.85 and a two-hundred day moving average price of $270.29. The stock has a market cap of $315.49 billion, a price-to-earnings ratio of 57.39, a P/E/G ratio of 2.99 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.22 billion. During the same quarter in the prior year, the business earned $1.63 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities analysts predict that Salesforce, Inc. will post 7.54 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were issued a dividend of $0.40 per share. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.48%. Salesforce’s dividend payout ratio is currently 27.83%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CRM. Citigroup increased their price target on Salesforce from $290.00 to $368.00 and gave the stock a “neutral” rating in a research note on Wednesday. Truist Financial upped their price target on shares of Salesforce from $315.00 to $380.00 and gave the stock a “buy” rating in a research note on Monday. Wedbush boosted their target price on Salesforce from $325.00 to $375.00 and gave the stock an “outperform” rating in a report on Monday. FBN Securities raised Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 target price on shares of Salesforce in a research note on Friday, August 30th. Eight equities research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.89.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 719 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares in the company, valued at $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Brian Millham sold 14,808 shares of Salesforce stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $338.95, for a total transaction of $5,019,171.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,510 shares of company stock worth $42,475,538. Company 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.