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

Flossbach Von Storch SE grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 711,099 shares of the CRM provider's stock after acquiring an additional 18,656 shares during the quarter. Salesforce accounts for about 0.8% of Flossbach Von Storch SE's holdings, making the stock its 29th largest position. Flossbach Von Storch SE owned 0.07% of Salesforce worth $190,831,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CRM. Brighton Jones LLC grew its holdings in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC grew its holdings in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in Salesforce by 70.4% in the 4th quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider's stock valued at $933,000 after buying an additional 1,153 shares in the last quarter. Edgestream Partners L.P. bought a new position in Salesforce in the 4th quarter valued at $1,476,000. Finally, AlphaQuest LLC bought a new position in Salesforce in the 4th quarter valued at $813,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CRM. Northland Securities cut their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Citigroup cut their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. JMP Securities restated a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a research report on Friday. Finally, Morgan Stanley restated an "overweight" rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Down 2.2%

NYSE CRM traded down $5.74 during trading hours on Friday, hitting $258.23. 7,004,230 shares of the company traded hands, compared to its average volume of 6,535,769. The business's 50-day moving average is $272.43 and its 200-day moving average is $289.84. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $246.87 billion, a price-to-earnings ratio of 40.41, a P/E/G ratio of 2.46 and a beta of 1.36.

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

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's payout ratio is 25.98%.

Insider Buying and Selling

In other news, insider Parker Harris sold 1,142 shares of the firm'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 value of $299,603.70. Following the completion of the sale, the insider directly owned 136,824 shares of the company's stock, valued at $35,895,776.40. This trade represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total value of $611,302.50. Following the completion of the sale, the chief executive officer directly owned 11,862,457 shares of the company's stock, valued at approximately $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,284 shares of company stock valued at $9,444,537. Insiders own 3.20% of the company's stock.

About Salesforce

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.