Metis Global Partners LLC Has $15.96 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Metis Global Partners LLC increased its position in shares of Salesforce, Inc. (NYSE:CRM) by 2.5% in the third quarter, HoldingsChannel reports. The firm owned 58,317 shares of the CRM provider’s stock after purchasing an additional 1,440 shares during the period. Metis Global Partners LLC’s holdings in Salesforce were worth $15,962,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Prime Capital Investment Advisors LLC boosted its holdings in shares of Salesforce by 13.6% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 58,036 shares of the CRM provider’s stock worth $15,885,000 after acquiring an additional 6,938 shares in the last quarter. AIA Group Ltd raised its position in Salesforce by 8.9% in the 3rd 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. boosted 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 worth $24,387,000 after purchasing an additional 10,656 shares in the last quarter. XN LP grew its holdings in shares of Salesforce by 24.2% during the second quarter. XN LP now owns 464,489 shares of the CRM provider’s stock worth $119,420,000 after purchasing an additional 90,616 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its stake in shares of Salesforce by 27.5% in the third quarter. Atomi Financial Group Inc. now owns 11,999 shares of the CRM provider’s stock valued at $3,284,000 after buying an additional 2,589 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $285.29, for a total value of $117,824.77. Following the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at approximately $1,998,741.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the sale, the chief accounting officer now owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Parker Harris sold 3,970 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total transaction of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at $35,431,349.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 144,373 shares of company stock valued at $41,250,680 over the last 90 days. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Up 0.0 %

Shares of CRM stock opened at $341.76 on Thursday. The company has a market capitalization of $326.72 billion, a price-to-earnings ratio of 59.43, a P/E/G ratio of 3.09 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $212.00 and a 12-month high of $348.86. The firm has a fifty day moving average of $283.28 and a 200-day moving average of $265.84. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last issued its quarterly 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. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period in the previous year, the company posted $1.63 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th were issued a $0.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is presently 27.83%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Salesforce from $320.00 to $350.00 and gave the stock a “buy” rating in a report on Monday, October 28th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. TD Cowen boosted their price objective on shares of Salesforce from $285.00 to $290.00 and gave the stock a “hold” rating in a research report on Thursday, August 29th. Northland Securities upgraded Salesforce from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $270.00 to $400.00 in a research report on Wednesday, October 2nd. Finally, Northland Capmk upgraded Salesforce from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 2nd. Nine investment 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’s stock. Based on data from MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $318.23.

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.