Salesforce, Inc. (NYSE:CRM) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 47.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 362,868 shares of the CRM provider's stock after purchasing an additional 116,165 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Salesforce were worth $97,379,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the fourth quarter worth approximately $27,000. Arlington Trust Co LLC boosted its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock worth $29,000 after acquiring an additional 40 shares during the last quarter. Asset Planning Inc acquired a new stake in Salesforce during the fourth quarter worth approximately $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the fourth quarter worth approximately $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $12,967,047.50. This trade represents a 11.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the transaction, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock valued at $11,024,802 in the last quarter. Company insiders own 3.20% of the company's stock.

Salesforce Stock Down 3.2%

Salesforce stock traded down $8.66 during midday trading on Friday, hitting $258.25. 7,647,008 shares of the stock were exchanged, compared to its average volume of 6,536,741. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00. The firm has a market cap of $246.89 billion, a P/E ratio of 42.48, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50 day moving average price of $268.09 and a two-hundred day moving average price of $300.13.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the firm posted $2.44 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.64%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CRM shares. The Goldman Sachs Group raised their target price 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. Oppenheimer restated an "outperform" rating and set a $370.00 target price on shares of Salesforce in a research report on Tuesday. Stephens decreased their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Profile

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.