Bellecapital International Ltd. Raises Stake in Salesforce, Inc. (NYSE:CRM)

Bellecapital International Ltd. raised its position in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 95.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,566 shares of the CRM provider's stock after purchasing an additional 1,253 shares during the quarter. Bellecapital International Ltd.'s holdings in Salesforce were worth $689,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $27,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Halbert Hargrove Global Advisors LLC acquired a new stake in Salesforce in the 4th quarter valued at $35,000. Finally, Wood Tarver Financial Group LLC acquired a new stake in Salesforce in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at approximately $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the transaction, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 over the last ninety days. Company insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Salesforce stock traded down $8.66 during midday trading on Friday, reaching $258.25. The stock had a trading volume of 7,647,008 shares, compared to its average volume of 6,536,741. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The firm's 50-day moving average price is $268.09 and its 200 day moving average price is $299.93. The firm has a market capitalization of $246.89 billion, a PE ratio of 42.48, a P/E/G ratio of 2.58 and a beta of 1.38. 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 (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share 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 for the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the prior year, the business posted $2.44 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. As a group, research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRM shares. Bank of America reduced their price target on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Jefferies Financial Group reduced their price target on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average 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.