Jefferies Financial Group Inc. trimmed its position in Salesforce Inc. (NYSE:CRM - Free Report) by 70.9% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 11,186 shares of the CRM provider's stock after selling 27,255 shares during the period. Jefferies Financial Group Inc.'s holdings in Salesforce were worth $3,002,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Liberty One Investment Management LLC lifted its stake in shares of Salesforce by 1.2% in the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after purchasing an additional 39 shares during the period. First Command Advisory Services Inc. lifted its stake 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 valued at $154,000 after purchasing an additional 39 shares during the period. Mendel Money Management lifted its stake in shares of Salesforce by 3.6% in the 1st quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock valued at $298,000 after purchasing an additional 39 shares during the period. Clarity Wealth Advisors LLC lifted its stake in shares of 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 purchasing an additional 40 shares during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its stake in shares of Salesforce by 5.2% in the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock valued at $218,000 after purchasing an additional 40 shares during the period. 80.43% of the stock is currently owned by institutional investors.
Salesforce Trading Down 2.9%
Shares of CRM stock opened at $250.85 on Friday. The firm has a 50 day moving average price of $266.04 and a two-hundred day moving average price of $281.92. 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 company has a market capitalization of $239.81 billion, a PE ratio of 39.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.37. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00.
Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data 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 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the business posted $2.44 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.
Salesforce Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is presently 25.98%.
Insider Buying and Selling at Salesforce
In other news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $265.77, for a total value of $597,982.50. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,165,738,224.67. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 39,729 shares of company stock valued at $10,763,881 in the last three months. 3.20% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently commented on the company. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. The Goldman Sachs Group raised their price objective on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. BMO Capital Markets dropped their price objective on Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a research note on Thursday, July 10th. Citigroup dropped their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Finally, Northland Securities dropped their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.
View Our Latest Stock Analysis on Salesforce
About Salesforce
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding CRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Salesforce Inc. (NYSE:CRM - Free Report).
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