Commerzbank Aktiengesellschaft FI Reduces Stock Holdings in Salesforce Inc. (NYSE:CRM)

Commerzbank Aktiengesellschaft FI decreased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 2.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,027 shares of the CRM provider's stock after selling 2,828 shares during the period. Commerzbank Aktiengesellschaft FI's holdings in Salesforce were worth $26,843,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce during the fourth quarter worth about $27,000. Capital A Wealth Management LLC boosted its stake in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. Abound Financial LLC bought a new stake in Salesforce during the first quarter worth about $31,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Salesforce during the fourth quarter worth about $35,000. Institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, insider R David Schmaier sold 4,586 shares of the business's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $1,163,284.76. Following the completion of the sale, the insider owned 33,273 shares of the company's stock, valued at approximately $8,440,029.18. The trade was a 12.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,525 shares of the business's stock in a transaction on Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $386,831.50. Following the completion of the sale, the chief accounting officer directly owned 12,211 shares of the company's stock, valued at approximately $3,097,442.26. The trade was a 11.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,819 shares of company stock valued at $9,111,823 in the last quarter. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 1.0%

Shares of NYSE:CRM traded up $2.52 during trading on Friday, reaching $262.40. The stock had a trading volume of 6,376,432 shares, compared to its average volume of 6,563,887. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a market capitalization of $250.85 billion, a P/E ratio of 41.06, a PEG ratio of 2.38 and a beta of 1.36. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm's 50-day simple moving average is $270.45 and its 200 day simple moving average is $286.17.

Salesforce (NYSE:CRM - Get Free Report) last announced 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. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. Salesforce's revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $2.44 EPS. As a group, research analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. The Goldman Sachs Group lifted their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. UBS Group set a $404.00 price objective on shares of Salesforce and gave the company an "overweight" rating in a report on Wednesday, June 18th. Citigroup decreased their price objective on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Cantor Fitzgerald cut shares of Salesforce from an "overweight" rating to a "cautious" rating in a report on Thursday, July 10th. Finally, Wells Fargo & Company boosted their price objective on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

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.