Salesforce Inc. (NYSE:CRM) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG reduced its holdings in Salesforce Inc. by 0.5%, selling 22,050 shares, now owning 4,136,607 shares valued at $1.11 billion.
• Salesforce has seen significant changes in institutional ownership, with hedge funds like Brighton Jones LLC and Renaissance Technologies LLC increasing their positions in the company.
• Equities analysts are mixed on Salesforce, with ratings ranging from "sell" to "strong buy," and the stock currently holds a consensus rating of "Moderate Buy".

Deutsche Bank AG decreased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 0.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,136,607 shares of the CRM provider's stock after selling 22,050 shares during the period. Deutsche Bank AG owned 0.43% of Salesforce worth $1,110,100,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Coign Capital Advisors LLC grew its stake in Salesforce by 1.7% in the first quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock worth $586,000 after purchasing an additional 37 shares during the period. Liberty One Investment Management LLC increased its holdings in shares of Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after acquiring an additional 39 shares in the last quarter. First Command Advisory Services Inc. raised its position in shares of Salesforce by 7.3% in the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after purchasing an additional 39 shares during the last quarter. Mendel Money Management raised its holdings in Salesforce by 3.6% in the first quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock worth $298,000 after buying an additional 39 shares during the last quarter. Finally, Clarity Wealth Advisors LLC lifted its position in Salesforce by 2.3% in the 1st quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock valued at $472,000 after acquiring an additional 40 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Friday, July 11th. The stock was sold at an average price of $259.67, for a total value of $584,257.50. Following the completion of the sale, the chief executive officer owned 11,955,566 shares of the company's stock, valued at $3,104,501,823.22. This trade represents a 0.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider owned 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,479 shares of company stock worth $12,457,591 in the last quarter. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Oppenheimer reissued an "outperform" rating and issued a $370.00 target price on shares of Salesforce in a report on Tuesday, June 10th. Cantor Fitzgerald downgraded shares of Salesforce from an "overweight" rating to a "cautious" rating in a report on Thursday, July 10th. Finally, JMP Securities restated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research note on Friday, July 11th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Salesforce Trading Down 0.3%

Shares of NYSE:CRM traded down $0.79 on Friday, hitting $240.09. 8,807,591 shares of the company's stock were exchanged, compared to its average volume of 5,971,969. The stock has a market capitalization of $229.53 billion, a price-to-earnings ratio of 37.57, a price-to-earnings-growth ratio of 2.19 and a beta of 1.37. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The business's 50 day simple moving average is $263.97 and its two-hundred day simple moving average is $280.10. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. Salesforce's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. Analysts anticipate 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 was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a $0.416 dividend. 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 25.98%.

Salesforce Company 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.