Louisbourg Investments Inc. Has $7.75 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Louisbourg Investments Inc. trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 22.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,187 shares of the CRM provider’s stock after selling 6,810 shares during the quarter. Salesforce accounts for 1.9% of Louisbourg Investments Inc.’s holdings, making the stock its 13th biggest position. Louisbourg Investments Inc.’s holdings in Salesforce were worth $7,752,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Veritas Asset Management LLP bought a new stake in shares of Salesforce during the third quarter worth $733,805,000. Jennison Associates LLC boosted its stake in Salesforce by 52.7% in the 4th quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after purchasing an additional 1,530,572 shares during the period. Swedbank AB increased its holdings in Salesforce by 46.7% during the 4th quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock worth $1,280,408,000 after purchasing an additional 1,219,254 shares in the last quarter. KBC Group NV raised its stake in shares of Salesforce by 171.2% in the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock valued at $447,470,000 after purchasing an additional 1,032,068 shares during the period. Finally, International Assets Investment Management LLC lifted its holdings in shares of Salesforce by 23,664.2% in the third quarter. International Assets Investment Management LLC now owns 1,002,848 shares of the CRM provider’s stock valued at $274,490,000 after purchasing an additional 998,628 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total transaction of $144,874.08. Following the completion of the sale, the chief accounting officer now directly owns 7,057 shares in the company, valued at $2,344,899.96. This represents a 5.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $335.94, for a total value of $2,089,882.74. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $15,705,195. This represents a 11.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,111,420 shares of company stock worth $384,366,700 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Price Performance

NYSE:CRM opened at $324.50 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $310.55 billion, a price-to-earnings ratio of 53.37, a P/E/G ratio of 2.66 and a beta of 1.31. Salesforce, Inc. has a 52 week low of $212.00 and a 52 week high of $369.00. The firm’s 50-day simple moving average is $338.74 and its 200 day simple moving average is $301.96.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The business had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. As a group, sell-side analysts predict that Salesforce, Inc. will post 7.48 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CRM. Northland Securities reissued an “outperform” rating and issued a $440.00 target price (up previously from $400.00) on shares of Salesforce in a research report on Wednesday, December 4th. Piper Sandler reaffirmed an “overweight” rating and set a $405.00 price target on shares of Salesforce in a research note on Wednesday, December 18th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up previously from $380.00) on shares of Salesforce in a research report on Wednesday, December 4th. UBS Group increased their target price on shares of Salesforce from $275.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-one have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $377.63.

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.