Salesforce, Inc. (NYSE:CRM) Shares Sold by Generali Investments Management Co LLC

Generali Investments Management Co LLC lowered its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 55.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,607 shares of the CRM provider's stock after selling 12,959 shares during the quarter. Generali Investments Management Co LLC's holdings in Salesforce were worth $2,846,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. OMC Financial Services LTD boosted its position in shares of Salesforce by 0.3% during the 4th quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Prossimo Advisors LLC lifted its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Mainstream Capital Management LLC lifted its stake in Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock worth $2,143,000 after purchasing an additional 33 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in Salesforce by 3.9% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider's stock worth $300,000 after purchasing an additional 34 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analysts Set New Price Targets

CRM has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. BMO Capital Markets dropped their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Canaccord Genuity Group dropped their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Sanford C. Bernstein lifted their price target on Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 705 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the sale, the insider now directly owns 9,323 shares of the company's stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,332 shares of company stock valued at $11,024,802. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Up 2.7%

NYSE CRM traded up $7.34 on Friday, hitting $274.48. The stock had a trading volume of 7,500,949 shares, compared to its average volume of 6,591,171. The business's fifty day moving average price is $266.48 and its 200 day moving average price is $302.92. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00. The stock has a market cap of $262.40 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

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.