Montag A & Associates Inc. sell 4,262 shares of Salesforce, Inc. (NYSE:CRM)

VaselineSeptember 2, 2024

0 5 minutes read

Montag A & Associates Inc. reduced its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 66.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). ). The fund owned 2,173 shares of the CRM provider’s stock after selling 4,262 shares during the period. The holdings of Montag A & Associates Inc. in Salesforce were worth $559,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CRM. Vanguard Group Inc. lifted its position in shares of Salesforce by 1.2% in the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock worth $25,490,446,000 after purchasing an additional 1,008,841 shares in the last quarter. Capital World Investors increased its position in Salesforce by 2.4% in the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after buying an additional 457,463 shares in the period time. Fisher Asset Management LLC boosted its holdings in shares of Salesforce by 5.2% during the fourth quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock worth $3,922,223,000 after buying an additional 736,986 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Salesforce by 26.9% in the first quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after acquiring an additional 3,044,611 shares during the period. Finally, Capital International Investors raised its stake in shares of Salesforce by 3.0% in the 1st quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares in the last quarter. 80.43% of the shares are currently owned by institutional investors.

Salesforce Inventory Performance

Shares of Salesforce opened at $252.90 on Monday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04, and a quick ratio of 1.11. The firm has a 50-day simple moving average of $254.44 and a 200-day simple moving average of $271.00. Salesforce, Inc. it has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The firm has a market cap of $245.06 billion, a P/E ratio of 45.49, a P/E/G ratio of 2.22 and a beta of 1.29.

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Salesforce (NYSE:CRM - Get your free report) last posted its quarterly earnings results 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. The company had revenue of $9.33 billion for 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%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. In the same quarter last year, the company posted earnings per share of $1.63. Sell-side analysts predict that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were given a dividend of $0.40 per share. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 28.78%.

Analyst upgrades and downgrades

CRM has been the subject of several research analyst reports. Jefferies Financial Group cut their price target on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company upped their target price on shares of Salesforce from $250.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday. Canaccord Genuity Group upped their price target on Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday. Stifel Nicolaus upped their price objective on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Raymond James boosted their price objective on Salesforce from $325.00 to $350.00 and gave the company a “strong-buy” rating in a research report on Thursday. Eight equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $304.41, according to MarketBeat.com.

Read our latest research report on CRM

Insider activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 413 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. In other news, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total value of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The sale was disclosed in a filing with the SEC, which is accessible via this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $235.71, for a total transaction of $3,535,650.00. Following the transaction, the chief executive officer now directly owns 12,362,327 shares in the company, valued at approximately $2,913,924,097.17. The disclosure for this sale can be found here. Insiders have sold 112,964 shares of company stock worth $27,956,647 over the last ninety days. Company insiders own 3.20% of the company’s shares.

Salesforce Company Profile

(Free report)

Salesforce, Inc provides Customer Relationship Management (CRM) technology that brings companies and customers together around the world. The company’s services include sales for data storage, lead and progress tracking, opportunity forecasting, analytics and artificial intelligence insights, and delivery of quotes, contracts and invoices; and services that enable companies to deliver reliable and highly personalized customer support at scale.