Salesforce Inc. (NYSE:CRM) Shares Sold by Dupont Capital Management Corp

Dupont Capital Management Corp lessened its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 4.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 44,569 shares of the CRM provider's stock after selling 2,310 shares during the period. Salesforce accounts for approximately 1.3% of Dupont Capital Management Corp's investment portfolio, making the stock its 24th largest holding. Dupont Capital Management Corp's holdings in Salesforce were worth $11,961,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CRM. Rockline Wealth Management LLC grew its position in shares of Salesforce by 4.9% in the 1st quarter. Rockline Wealth Management LLC now owns 12,805 shares of the CRM provider's stock worth $3,436,000 after buying an additional 593 shares during the last quarter. Cottage Street Advisors LLC lifted its holdings in shares of Salesforce by 139.5% during the 1st quarter. Cottage Street Advisors LLC now owns 3,951 shares of the CRM provider's stock valued at $1,060,000 after purchasing an additional 2,301 shares during the last quarter. Private Wealth Partners LLC boosted its position in shares of Salesforce by 25.5% in the 1st quarter. Private Wealth Partners LLC now owns 20,010 shares of the CRM provider's stock worth $5,370,000 after purchasing an additional 4,069 shares in the last quarter. Advisor Resource Council purchased a new position in Salesforce during the 1st quarter worth $3,849,000. Finally, Segment Wealth Management LLC increased its position in Salesforce by 6.7% during the 1st quarter. Segment Wealth Management LLC now owns 10,179 shares of the CRM provider's stock valued at $2,732,000 after buying an additional 641 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

Shares of CRM stock traded up $1.29 during trading hours on Friday, hitting $260.79. 12,802,546 shares of the company's stock were exchanged, compared to its average volume of 6,490,099. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $249.31 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.36 and a beta of 1.38. The firm has a 50 day moving average of $268.51 and a two-hundred day moving average of $297.25. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the previous year, the company earned $2.44 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank Of Canada downgraded shares of Salesforce from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $420.00 to $275.00 in a report on Thursday, May 29th. Citigroup dropped their target price on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Stifel Nicolaus dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average price target of $349.08.

Insider Transactions at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares in the company, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian Millham sold 3,937 shares of the business's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,570,312.44. This represents a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,111 shares of company stock valued at $9,299,283 over the last ninety days. Insiders own 3.20% of the company's stock.

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.