Asio Capital LLC raised its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 4.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,016 shares of the CRM provider's stock after purchasing an additional 1,096 shares during the period. Salesforce makes up about 1.3% of Asio Capital LLC's investment portfolio, making the stock its 21st largest holding. Asio Capital LLC's holdings in Salesforce were worth $6,713,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new stake in Salesforce during the fourth quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in shares of Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after acquiring an additional 3,789,147 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Salesforce during the 4th quarter valued at $1,173,564,000. Finally, Invesco Ltd. increased its stake in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Institutional investors own 80.43% of the company's stock.
Insider Buying and Selling at Salesforce
In other Salesforce news, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the completion of the transaction, the insider now directly owns 125,146 shares in the company, valued at $35,614,048.68. The trade was a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares of the company's stock, valued at $12,219,490. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock worth $11,024,802 in the last ninety days. 3.20% of the stock is owned by insiders.
Salesforce Stock Down 3.2%
Salesforce stock traded down $8.66 during trading on Friday, reaching $258.25. 7,647,008 shares of the company's stock were exchanged, compared to its average volume of 6,536,741. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00. The firm has a market cap of $246.89 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. 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 company's 50-day moving average is $268.09 and its two-hundred day moving average is $299.93.
Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 earnings per share. On average, analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current year.
Salesforce Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio is presently 25.98%.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. UBS Group reduced their target price on shares of Salesforce from $320.00 to $300.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Barclays decreased their target price on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group upped their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $346.34.
Read Our Latest Stock Report on Salesforce
About Salesforce
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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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