Kintegral Advisory LLC Sells 11,365 Shares of Salesforce Inc. (NYSE:CRM)

Kintegral Advisory LLC lowered its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 32.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 23,173 shares of the CRM provider's stock after selling 11,365 shares during the quarter. Salesforce makes up approximately 0.9% of Kintegral Advisory LLC's holdings, making the stock its 22nd biggest holding. Kintegral Advisory LLC's holdings in Salesforce were worth $6,219,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC increased its stake in shares of Salesforce by 45.0% in the 1st quarter. Catalyst Capital Advisors LLC now owns 1,053 shares of the CRM provider's stock valued at $283,000 after buying an additional 327 shares during the period. Global Wealth Management Investment Advisory Inc. boosted its holdings in Salesforce by 11.6% in the first quarter. Global Wealth Management Investment Advisory Inc. now owns 10,121 shares of the CRM provider's stock valued at $2,716,000 after acquiring an additional 1,051 shares during the last quarter. Timber Creek Capital Management LLC boosted its holdings in Salesforce by 0.4% in the first quarter. Timber Creek Capital Management LLC now owns 17,572 shares of the CRM provider's stock valued at $4,716,000 after acquiring an additional 72 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its holdings in Salesforce by 58.6% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 148,282 shares of the CRM provider's stock worth $39,793,000 after purchasing an additional 54,815 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its holdings in Salesforce by 9.3% during the 1st quarter. IFM Investors Pty Ltd now owns 200,154 shares of the CRM provider's stock worth $54,784,000 after purchasing an additional 17,081 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group lifted their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Piper Sandler raised their price objective on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Northland Securities lowered their target price on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, BMO Capital Markets reduced their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total transaction of $613,080.00. Following the sale, the chief executive officer owned 11,862,457 shares in the company, valued at approximately $3,232,282,283.36. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider directly owned 41,422 shares of the company's stock, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,534 shares of company stock worth $7,609,842 over the last three months. Company insiders own 3.20% of the company's stock.

Salesforce Stock Up 0.9%

Salesforce stock traded up $2.37 during midday trading on Friday, reaching $271.58. The stock had a trading volume of 5,031,804 shares, compared to its average volume of 6,543,873. The stock has a market capitalization of $259.63 billion, a P/E ratio of 42.50, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36. The firm's fifty day simple moving average is $272.21 and its 200-day simple moving average is $292.32. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.44 earnings per share. As a group, analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

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

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.