Flossbach Von Storch SE Has $190.83 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

Flossbach Von Storch SE lifted its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 2.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 711,099 shares of the CRM provider's stock after purchasing an additional 18,656 shares during the period. Salesforce comprises 0.8% of Flossbach Von Storch SE's holdings, making the stock its 29th biggest position. Flossbach Von Storch SE owned 0.07% of Salesforce worth $190,831,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Millstone Evans Group LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $823,000. Heartland Bank & Trust Co raised its stake in Salesforce by 117.2% during the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock worth $1,605,000 after purchasing an additional 3,227 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $5,249,000. Elwood Capital Partners LP purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $1,337,000. Finally, Bestgate Wealth Advisors LLC purchased a new stake in Salesforce during the 4th quarter worth approximately $441,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 1,269 shares of the business's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $332,922.15. Following the completion of the transaction, the insider directly owned 42,678 shares of the company's stock, valued at $11,196,573.30. The trade was a 2.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 405 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares of the company's stock, valued at approximately $2,605,922.55. This represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,034 shares of company stock worth $8,833,235. 3.20% of the stock is owned by company insiders.

Salesforce Trading Down 0.9%

Shares of NYSE CRM traded down $2.55 during midday trading on Wednesday, reaching $271.10. 6,371,001 shares of the stock were exchanged, compared to its average volume of 6,542,568. The company has a market capitalization of $259.17 billion, a P/E ratio of 42.43, a P/E/G ratio of 2.45 and a beta of 1.36. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. 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 stock has a 50 day moving average price of $272.48 and a 200-day moving average price of $290.51.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly 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. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the previous year, the company posted $2.44 earnings per share. Salesforce's revenue was up 7.6% compared to the same quarter last year. Equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Analyst Upgrades and Downgrades

CRM has been the subject of several analyst reports. Wells Fargo & Company boosted their price target 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. Morgan Stanley reiterated an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Cantor Fitzgerald reiterated an "overweight" rating and set a $325.00 price target on shares of Salesforce in a report on Thursday, June 26th. Finally, Stephens lowered their price target on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and an average target price of $349.08.

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.