M&T Bank Corp raised its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,314 shares of the CRM provider's stock after purchasing an additional 10,084 shares during the period. M&T Bank Corp's holdings in Salesforce were worth $52,912,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Infrastructure Capital Advisors LLC acquired a new stake in Salesforce in the third quarter valued at approximately $27,000. Clear Investment Research LLC boosted its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider's stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Stephens Consulting LLC increased its position in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider's stock worth $33,000 after buying an additional 125 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in Salesforce during the second quarter valued at about $33,000. Finally, Godsey & Gibb Inc. lifted its position in shares of Salesforce by 300.0% in the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider's stock worth $33,000 after buying an additional 90 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
In related news, Director G Mason Morfit sold 15,353 shares of Salesforce stock in a transaction on Friday, December 20th. The stock was sold at an average price of $340.55, for a total transaction of $5,228,464.15. Following the completion of the sale, the director now directly owns 2,898,509 shares of the company's stock, valued at $987,087,239.95. The trade was a 0.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the transaction, the chief executive officer now directly owns 12,162,457 shares in the company, valued at $4,217,696,838.46. The trade was a 2.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,189,056 shares of company stock valued at $405,093,170. Company insiders own 3.20% of the company's stock.
Shares of CRM stock opened at $343.65 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $328.87 billion, a price-to-earnings ratio of 56.52, a PEG ratio of 3.21 and a beta of 1.30. The firm's 50 day moving average is $323.14 and its 200-day moving average is $279.01. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00.
Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 EPS for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analyst estimates of $9.35 billion. During the same period last year, the business posted $1.62 earnings per share. The firm's quarterly revenue was up 8.3% on a year-over-year basis. Sell-side analysts forecast that Salesforce, Inc. will post 7.48 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th will be paid a $0.40 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.47%. Salesforce's payout ratio is presently 26.32%.
A number of brokerages have recently commented on CRM. Northland Capmk raised Salesforce from a "hold" rating to a "strong-buy" rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an "overweight" rating in a research report on Wednesday, December 4th. Barclays upped their price objective on shares of Salesforce from $415.00 to $425.00 and gave the stock an "overweight" rating in a report on Wednesday, December 4th. Piper Sandler reiterated an "overweight" rating and issued a $405.00 target price on shares of Salesforce in a report on Wednesday. Finally, Loop Capital upped their price target on shares of Salesforce from $340.00 to $360.00 and gave the company a "hold" rating in a report on Wednesday, December 4th. Eight investment analysts have rated the stock with a hold rating, thirty have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and a consensus price target of $378.86.
Check Out Our Latest Analysis on CRM
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.
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