Aperture Investors LLC Sells 5,277 Shares of Salesforce Inc. $CRM

Key Points

• Aperture Investors LLC reduced its stake in Salesforce Inc. by 36.1%, selling 5,277 shares and now holds a total of 9,338 shares valued at approximately $2.5 million.
• The company recently disclosed that CEO Marc Benioff sold 2,250 shares of stock, which has contributed to a total of 59,327 shares sold by insiders worth over $15 million in the last quarter.
• Analysts have mixed views on Salesforce, with Goldman Sachs raising its price target from $340 to $385, while other firms have lowered their targets, leading to a consensus rating of "Moderate Buy."

Aperture Investors LLC trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 36.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,338 shares of the CRM provider's stock after selling 5,277 shares during the quarter. Aperture Investors LLC's holdings in Salesforce were worth $2,506,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the 4th quarter worth $27,000. Capital A Wealth Management LLC grew its stake in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC grew its stake in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the last quarter. Finally, Abound Financial LLC purchased a new position in Salesforce during the 1st quarter worth $31,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRM shares. The Goldman Sachs Group boosted their price target on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Stifel Nicolaus dropped their price target on Salesforce from $375.00 to $325.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $275.00 price target on shares of Salesforce in a research note on Monday, August 18th. Mizuho dropped their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Finally, Citigroup dropped their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $340.43.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $248.56, for a total value of $559,260.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $2,960,740,087.76. This represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 59,327 shares of company stock valued at $15,201,738 in the last quarter. 3.00% of the stock is owned by corporate insiders.

Salesforce Stock Up 1.9%

Shares of CRM opened at $254.79 on Friday. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $243.58 billion, a price-to-earnings ratio of 39.87, a PEG ratio of 2.27 and a beta of 1.37. The stock's 50-day moving average price is $257.43 and its 200-day moving average price is $270.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%.The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. The company's revenue was up 7.6% compared to the same quarter last year. On average, sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. Salesforce's dividend payout ratio is presently 25.98%.

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.

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