MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Has $40.35 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 150,355 shares of the CRM provider's stock after acquiring an additional 7,139 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Salesforce were worth $40,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Capital Advisors Ltd. LLC lifted its position in shares of 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 in the last quarter. Prossimo Advisors LLC boosted its position in Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after buying an additional 32 shares during the last quarter. Mainstream Capital Management LLC boosted its position in Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after buying an additional 33 shares during the last quarter. Citizens National Bank Trust Department grew its stake in shares of Salesforce by 1.9% during the fourth quarter. Citizens National Bank Trust Department now owns 1,924 shares of the CRM provider's stock valued at $643,000 after acquiring an additional 35 shares in the last quarter. Finally, Delap Wealth Advisory LLC increased its position in shares of Salesforce by 2.7% during the fourth quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider's stock worth $447,000 after acquiring an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

CRM traded down $3.36 during trading on Wednesday, reaching $258.98. The stock had a trading volume of 7,601,139 shares, compared to its average volume of 6,537,794. Salesforce Inc. has a 1-year low of $229.23 and a 1-year high of $369.00. The firm has a market capitalization of $247.59 billion, a price-to-earnings ratio of 40.53, a price-to-earnings-growth ratio of 2.39 and a beta of 1.38. The stock has a 50 day moving average of $268.43 and a two-hundred day moving average of $299.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

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

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is 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 currently 25.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Sanford C. Bernstein upped their price target on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a report on Thursday, May 29th. Barclays reduced their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a research note on Thursday, May 29th. Finally, Stifel Nicolaus 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 Thursday, February 27th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $346.34.

Insider Activity at Salesforce

In other news, insider Miguel Milano sold 705 shares of the business's stock in a transaction on Friday, May 23rd. The stock was 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 document filed with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,111 shares of company stock valued at $9,299,283 over the last ninety days. 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.