Veritas Asset Management LLP lowered its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 97.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,741 shares of the CRM provider’s stock after selling 2,202,145 shares during the quarter. Salesforce comprises about 0.2% of Veritas Asset Management LLP’s portfolio, making the stock its 18th biggest holding. Veritas Asset Management LLP’s holdings in Salesforce were worth $8,106,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. California State Teachers Retirement System lifted its stake in shares of Salesforce by 13,260.5% in the 2nd quarter. California State Teachers Retirement System now owns 188,085,056 shares of the CRM provider’s stock worth $29,465,405,000 after acquiring an additional 186,677,290 shares during the period. BlackRock Inc. bought a new stake in Salesforce during the second quarter worth approximately $11,396,844,000. State Street Corp raised its holdings in Salesforce by 1.3% during the fourth quarter. State Street Corp now owns 50,080,230 shares of the CRM provider’s stock worth $13,286,909,000 after purchasing an additional 659,573 shares in the last quarter. J. Stern & Co. LLP boosted its stake in Salesforce by 24,056.7% during the 4th quarter. J. Stern & Co. LLP now owns 47,385,511 shares of the CRM provider’s stock valued at $12,552,896,000 after purchasing an additional 47,189,352 shares in the last quarter. Finally, Capital International Investors boosted its stake in Salesforce by 13.3% during the 4th quarter. Capital International Investors now owns 22,721,010 shares of the CRM provider’s stock valued at $6,019,199,000 after purchasing an additional 2,669,891 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.
Insider Activity at Salesforce
In related news, Director Craig Conway sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $260.61, for a total transaction of $1,172,745.00. Following the transaction, the director owned 5,437 shares of the company’s stock, valued at approximately $1,416,936.57. This trade represents a 45.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.50% of the company’s stock.
Salesforce Stock Down 3.9%
- Salesforce Looks Overbought, But the Rally May Be Far From Over
Shares of NYSE CRM traded down $10.21 during mid-day trading on Tuesday, reaching $249.03. The company had a trading volume of 16,186,912 shares, compared to its average volume of 14,091,925. Salesforce Inc. has a twelve month low of $146.32 and a twelve month high of $269.11. The company has a debt-to-equity ratio of 1.02, a quick ratio of 0.84 and a current ratio of 0.84. The stock has a market capitalization of $204.95 billion, a PE ratio of 22.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.20. The stock’s 50 day moving average is $195.74 and its 200-day moving average is $185.92.
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