Salesforce, Inc. (NYSE:CRM) Shares Bought by Amalgamated Bank

Amalgamated Bank boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 209,077 shares of the CRM provider’s stock after purchasing an additional 4,641 shares during the quarter. Salesforce accounts for about 0.5% of Amalgamated Bank’s holdings, making the stock its 26th biggest position. Amalgamated Bank’s holdings in Salesforce were worth $57,226,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Salesforce by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after buying an additional 1,008,841 shares during the period. Capital Research Global Investors raised its holdings in Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares during the period. Capital International Investors raised its holdings in Salesforce by 3.0% during the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after buying an additional 407,834 shares during the period. Legal & General Group Plc raised its holdings in Salesforce by 2.2% during the 2nd quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after buying an additional 176,641 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in Salesforce by 48.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,906,877 shares of the CRM provider’s stock worth $1,518,658,000 after buying an additional 1,922,674 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the transaction, the insider now directly owns 117,581 shares in the company, valued at $29,932,595.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Salesforce news, COO Brian Millham sold 4,056 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares of the company’s stock, valued at approximately $29,932,595.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,003 shares of company stock worth $41,494,084 over the last three months. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Morgan Stanley upped their target price on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 target price on shares of Salesforce in a report on Wednesday, August 28th. Roth Mkm reiterated a “buy” rating and issued a $335.00 target price on shares of Salesforce in a report on Thursday, August 29th. Loop Capital reiterated a “hold” rating and issued a $270.00 target price on shares of Salesforce in a report on Thursday, September 19th. Finally, Evercore ISI reiterated an “outperform” rating and issued a $300.00 target price on shares of Salesforce in a report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $313.37.

Salesforce Stock Performance

Shares of NYSE CRM opened at $298.01 on Tuesday. The business has a fifty day simple moving average of $273.68 and a 200 day simple moving average of $263.36. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $284.90 billion, a price-to-earnings ratio of 51.83, a PEG ratio of 2.67 and a beta of 1.29. Salesforce, Inc. has a one year low of $204.69 and a one year high of $318.71.

Salesforce (NYSE:CRM) last issued its 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. The business had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the company posted $1.63 earnings per share. Sell-side analysts expect that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.54%. Salesforce’s dividend payout ratio is currently 27.83%.

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.