Sustainable Insight Capital Management LLC Raises Salesforce Stake

Sustainable Insight Capital Management LLC has significantly increased its investment in Salesforce, Inc. (NYSE: CRM), boosting its holdings by 127.6% during the fourth quarter. This information comes from the latest 13F filing submitted to the Securities and Exchange Commission. The fund now holds a total of 3,411 shares of Salesforce after acquiring an additional 1,912 shares during the quarter. The value of Sustainable Insight Capital Management LLC's Salesforce holdings has reached approximately $1,140,000 at the close of the most recent reporting period.

Recent Changes Among Investors

In addition to Sustainable Insight Capital Management, several other hedge funds have adjusted their positions in Salesforce recently. For instance, Infrastructure Capital Advisors LLC established a new position in the third quarter valued at $27,000. Likewise, Strategic Investment Solutions Inc. IL made a new investment in Salesforce worth about $33,000 during the second quarter. Godsey & Gibb Inc. notably increased its stake by 300% in the third quarter, now owning 120 shares valued at $33,000 after adding 90 shares. Annapolis Financial Services LLC also increased its position by 135.6%, bringing its total to 139 shares worth $38,000 after acquiring 80 additional shares. Lastly, FSA Wealth Management LLC entered a new position valued at $53,000. Notably, institutional investors hold 80.43% of Salesforce's stock.

Analyst Insights

Recently, there have been several analyst upgrades regarding Salesforce's stock. BMO Capital Markets raised their price target for Salesforce from $385.00 to $425.00 while designating the stock as "outperform" in a research note on December 4th. Similarly, Loop Capital increased their target price from $340.00 to $360.00 and assigned a "hold" rating. Jefferies Financial Group also upped their target from $400.00 to $425.00 with a "buy" rating on the same day. Piper Sandler reaffirmed an "overweight" rating while setting a $405.00 price target in their analysis from December 18th. Additionally, JPMorgan Chase & Co. adjusted their target from $340.00 to $380.00 and maintained an "overweight" rating. Of all the investment analysts tracking the stock, one has issued a sell rating, six gave it a hold rating, while thirty-one analysts have issued buy ratings, with four labeling it as a strong buy. The average rating for Salesforce's stock is currently termed a "Moderate Buy," with an average target price of $377.63.

Salesforce Share Performance

On the trading dashboard, Salesforce shares opened at $334.75 on a recent Friday. The stock has shown a 50-day moving average of $336.50 and a 200-day moving average of $293.20. The company's market capitalization stands at $320.36 billion, featuring a P/E ratio of 55.06, a P/E/G ratio of 2.95, and a beta of 1.30. Over the past trading year, Salesforce has seen its stock fluctuate, recording a fifty-two week low of $212.00 and a high of $369.00. Other financial metrics include a quick ratio of 1.11, a current ratio of 1.11, along with a debt-to-equity ratio of 0.14.

Recent Earnings Announced

Salesforce last reported its quarterly earnings on December 3rd. The company reported an earnings per share (EPS) of $2.41, which was slightly below analysts' expectations of $2.44. However, the revenue of $9.44 billion exceeded estimates of $9.35 billion for the quarter. Salesforce achieved a return on equity of 12.34% and a net margin of 15.96%. Revenue for the quarter marked an increase of 8.3% compared to the same period last year, while the preceding year had an EPS of $1.62. Analysts anticipate that Salesforce, Inc. will post an average EPS of 7.48 for the current fiscal year.

Dividend Declaration

In a recent development, Salesforce announced a quarterly dividend, which was paid out on January 9th. Stockholders recorded as of December 18th received a dividend of $0.40, resulting in an annualized dividend of $1.60 and a yield of 0.48%. The ex-dividend date was also December 18th, while the company's payout ratio is at 26.32%.

Insider Transactions

Furthermore, there have been insider transactions to note. Insider Parker Harris sold 4,200 shares on October 29th at an average price of $298.04, totaling $1,251,768. After this sale, Harris now holds 119,402 shares valued at approximately $35,586,572. Additionally, Chief Accounting Officer Sundeep G. Reddy sold 436 shares on January 23rd at an average price of $332.28, totaling $144,874.08, which marks a 5.82% decrease in his ownership. In the last three months, insiders have sold a massive 1,173,891 shares worth about $402,840,388. Overall, insiders currently own 3.20% of Salesforce's shares.

Company Overview

Salesforce, Inc. specializes in Customer Relationship Management (CRM) technology, intending to connect businesses with customers worldwide. Its solutions encompass sales to manage data, track leads and progress, forecast opportunities, utilize analytical insights, and deliver various financial documents such as quotes and invoices. Moreover, Salesforce's services allow companies to provide reliable and tailored customer support at scale.

Sustainable, Investment, Salesforce