Caption Management LLC Has $1.93 Million Position in Salesforce Inc. $CRM

Key Points

• Caption Management LLC has reduced its holdings in Salesforce Inc. by 29.4% after selling 3,000 shares, leaving them with 7,200 shares valued at approximately $1.93 million.
• Several institutional investors increased their stakes in Salesforce during the first quarter, with Alecta Tjanstepension Omsesidigt leading the way with a 121.9% increase.
• Analysts have recently adjusted their price targets for Salesforce, with Barclays lowering its objective from $347 to $316 while maintaining an "overweight" rating.

Caption Management LLC reduced its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 29.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,200 shares of the CRM provider's stock after selling 3,000 shares during the quarter. Caption Management LLC's holdings in Salesforce were worth $1,932,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. AIA Group Ltd increased its holdings in shares of Salesforce by 8.0% in the first quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider's stock valued at $8,825,000 after purchasing an additional 2,436 shares during the last quarter. Notis McConarty Edward boosted its holdings in shares of Salesforce by 71.6% during the 1st quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock worth $1,032,000 after buying an additional 1,604 shares during the period. Aberdeen Group plc grew its stake in Salesforce by 1.5% in the 1st quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider's stock valued at $274,802,000 after buying an additional 15,782 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. grew its stake in Salesforce by 43.0% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider's stock valued at $28,133,000 after buying an additional 31,537 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt lifted its position in Salesforce by 121.9% during the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock worth $95,222,000 after acquiring an additional 195,000 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Sanford C. Bernstein upped their target price on Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research report on Thursday, May 29th. Canaccord Genuity Group decreased their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. UBS Group lowered their price objective on Salesforce from $300.00 to $260.00 and set a "neutral" rating on the stock in a research report on Monday, August 18th. Westpark Capital reissued a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Finally, DA Davidson raised shares of Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price target on the stock in a research report on Friday, August 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $341.50.

Salesforce Price Performance

Salesforce stock traded down $3.31 during trading hours on Tuesday, reaching $252.94. 9,290,237 shares of the stock were exchanged, compared to its average volume of 7,251,401. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a twelve month low of $226.48 and a twelve month high of $369.00. The company has a market cap of $241.81 billion, a P/E ratio of 39.58, a price-to-earnings-growth ratio of 2.33 and a beta of 1.22. The stock has a 50 day moving average of $257.20 and a two-hundred day moving average of $268.36.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $255.30, for a total value of $574,425.00. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,041,024,076.30. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 61,577 shares of company stock worth $15,776,163 in the last three months. 3.00% of the stock is owned by corporate insiders.

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.