Mirabella Financial Services LLP Sells 145 Shares of Salesforce, Inc. (NYSE:CRM)

Mirabella Financial Services LLP reduced its position in Salesforce, Inc. (NYSE:CRM) by 1.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,684 shares of the CRM provider’s stock after selling 145 shares during the quarter. Mirabella Financial Services LLP’s holdings in Salesforce were worth $2,081,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fisher Asset Management LLC boosted its stake in Salesforce by 2.6% during the third quarter. Fisher Asset Management LLC now owns 12,276,551 shares of the CRM provider’s stock worth $3,360,215,000 after acquiring an additional 314,530 shares in the last quarter. Legal & General Group Plc boosted its stake in Salesforce by 2.2% during the second quarter. Legal & General Group Plc now owns 8,329,687 shares of the CRM provider’s stock worth $2,141,562,000 after acquiring an additional 176,641 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Salesforce by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,964,702 shares of the CRM provider’s stock worth $1,632,599,000 after acquiring an additional 57,825 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Salesforce by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,912,854 shares of the CRM provider’s stock worth $1,618,407,000 after acquiring an additional 96,381 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Salesforce by 25.1% during the second quarter. Ameriprise Financial Inc. now owns 4,378,826 shares of the CRM provider’s stock worth $1,125,331,000 after acquiring an additional 877,495 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

CRM stock opened at $346.35 on Monday. The stock has a market cap of $331.11 billion, a PE ratio of 59.48, a P/E/G ratio of 3.10 and a beta of 1.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a one year low of $212.00 and a one year high of $348.86. The firm has a 50 day simple moving average of $294.61 and a two-hundred day simple moving average of $268.53.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.63 EPS. On average, analysts predict that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 8th. Investors 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 dividend on an annualized basis and a yield of 0.46%. Salesforce’s dividend payout ratio is currently 27.83%.

Analysts Set New Price Targets

Several research firms have weighed in on CRM. JPMorgan Chase & Co. upped their price objective on shares of Salesforce from $310.00 to $340.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a report on Friday, September 20th. Truist Financial restated a “buy” rating and set a $315.00 price objective (up previously from $300.00) on shares of Salesforce in a report on Thursday, September 19th. Robert W. Baird upped their price objective on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, UBS Group upped their price objective on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday. Eight investment analysts have rated the stock with a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.80.

Insider Activity at Salesforce

In other news, COO Brian Millham sold 14,808 shares of the company’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $338.95, for a total value of $5,019,171.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $285.29, for a total transaction of $117,824.77. Following the completion of the sale, the chief accounting officer now directly owns 7,006 shares in the company, valued at $1,998,741.74. This represents a 5.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,991 shares of company stock worth $43,333,238 in the last three months. 3.20% of the stock is owned by insiders.

Salesforce Profile

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.