Salesforce, Inc. (NYSE:CRM) Stock Holdings Cut by Avanza Fonder AB

Avanza Fonder AB lessened its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 10.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 56,117 shares of the CRM provider's stock after selling 6,872 shares during the period. Salesforce accounts for 0.5% of Avanza Fonder AB's holdings, making the stock its 29th biggest holding. Avanza Fonder AB's holdings in Salesforce were worth $15,238,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the 4th quarter worth about $27,000. Arlington Trust Co LLC lifted its holdings 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 period. Asset Planning Inc bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. Finally, Collier Financial bought a new position in shares of Salesforce during the 4th quarter valued at approximately $32,000. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is owned by insiders.

Salesforce Stock Down 0.9%

CRM traded down $2.29 on Wednesday, reaching $265.93. The company's stock had a trading volume of 6,556,774 shares, compared to its average volume of 6,578,379. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $227.77 and a fifty-two week high of $369.00. The company has a market capitalization of $254.23 billion, a price-to-earnings ratio of 43.74, a P/E/G ratio of 2.58 and a beta of 1.38. The stock has a 50 day moving average of $266.84 and a two-hundred day moving average of $301.47.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the business earned $2.44 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CRM shares. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Stifel Nicolaus reduced their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Jefferies Financial Group dropped their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Scotiabank reduced their price target on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, DA Davidson reiterated an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $346.34.

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.