BlackRock Fund Advisors recently announced the acquisition of new stake in Salesforce Inc (NYSE:CRM). The institutional investor has increased its shareholding in the Technology company by 0.09% to 46.34 million shares with purchase of 42909.0 shares. This fresh investment now brings its stake to 4.79% valued currently at $12.2 billion. In addition, Geode Capital Management LLC raised its holdings by 0.31 million to 18.1 million shares. And Fisher Asset Management LLC has lifted its position by 2.01% or 0.28 million shares – to 14.17 million shares.
Currently, there are 1.01B common shares owned by the public and among those 937.07M shares have been available to trade.
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Insiders at the company have transacted a total of 1051 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 232 of these insider trades were purchases, accounting for 974,114 shares. Insider sales of the common stock occurred on 819 occasions, with total insider shares sold totaling 3,903,813 shares.
The top 3 mutual fund holders in Salesforce Inc are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and SPDR S&P 500 ETF Trust. Vanguard Total Stock Market ETF owns 29.01 million shares of the company’s stock, all valued at over $7.63 billion. The company bought an additional 7177.0 shares recently to bring their total holdings to about 3.00% of the shares outstanding. Vanguard 500 Index Fund bought 19579.0 shares to see its total holdings expand to 23.76 million shares valued at over $6.25 billion and representing 2.45% of the shares outstanding. SPDR S&P 500 ETF Trust sold 65201.0 shares to bring its total holdings to over 11.91 million shares at a value of $3.13 billion. SPDR S&P 500 ETF Trust now owns shares totaling to 1.23% of the shares outstanding.
However, the script later moved the day high at 288.15, up 2.83%. The company’s stock has a 5-day price change of 2.70% and 46.68% over the past three months. CRM shares are trading 9.39% year to date (YTD), with the 12-month market performance up to 74.37% higher. It has a 12-month low price of $159.65 and touched a high of $285.72 over the same period. CRM has an average intraday trading volume of 5.64 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 7.46%, 13.15%, and 30.27% respectively.
Institutional ownership of Salesforce Inc (NYSE: CRM) shares accounts for 80.46% of the company’s 1.01B shares outstanding. Mutual fund holders own 4.64%, while other institutional holders and individual stakeholders account for 45.50% and 35.31% respectively.
It has a market capitalization of $278.65B and a beta (3y monthly) value of 1.28. The stock’s trailing 12-month PE ratio is 109.27, while the earnings-per-share (ttm) stands at $2.63. The company has a PEG of 4.08 and a Quick Ratio of 0.95 with the debt-to-equity ratio at 0.24. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.80% over the week and 1.86% over the month.
Analysts forecast that Salesforce Inc (CRM) will achieve an EPS of $2.26 for the current quarter, $2.19 for the next quarter and $9.56 for 2025. The lowest estimate earnings-per-share for the quarter is $2.22 while analysts give the company a high EPS estimate of $2.31. Comparatively, EPS for the current quarter was $1.68 a year ago. Earnings per share for the fiscal year are expected to increase by 56.40%, and 17.20% over the next financial year. EPS should grow at an annualized rate of 26.77% over the next five years, compared to -15.70% over the past 5-year period.
Looking at the support for the CRM, a number of firms have released research notes about the stock. Robert W. Baird stated their Outperform rating for the stock in a research note on January 11, 2024, with the firm’s price target at $240-$300.
