DE Burlo Group Inc. Has $3.92 Million Stake in Salesforce Inc. (NYSE:CRM)

Key Points

• DE Burlo Group Inc. reduced its stake in Salesforce Inc. (NYSE:CRM) by 6.1%, retaining 14,614 shares valued at approximately $3.92 million as of the latest SEC filing.
• Salesforce reported $2.58 EPS for the last quarter, surpassing estimates, with total revenue reaching $9.83 billion, up 7.6% year-over-year.
• Institutional ownership of Salesforce stock stands at 80.43%, demonstrating significant confidence from institutional investors in the company's performance and future prospects.

DE Burlo Group Inc. reduced its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,614 shares of the CRM provider's stock after selling 950 shares during the quarter. DE Burlo Group Inc.'s holdings in Salesforce were worth $3,922,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the fourth quarter worth approximately $27,000. Capital A Wealth Management LLC raised its position in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its stake in Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares during the last quarter. Finally, Abound Financial LLC acquired a new stake in Salesforce in the first quarter valued at approximately $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $269.11 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The business's fifty day moving average price is $268.07 and its two-hundred day moving average price is $284.27. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $257.27 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results 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 company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. As a group, analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

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 paid a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.62%. Salesforce's dividend payout ratio is 25.98%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRM. BMO Capital Markets dropped their price target on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a research note on Thursday, July 10th. Wells Fargo & Company upped their price objective on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research report on Friday, July 11th. Finally, Oppenheimer reiterated an "outperform" rating and set a $370.00 price target on shares of Salesforce in a research note on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $348.16.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $266.56, for a total value of $599,760.00. Following the transaction, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,175,148,365.76. The trade was a 0.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 33,479 shares of company stock worth $9,091,796 over the last three months. Company insiders own 3.20% of the company's stock.

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.

Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.