Mitsubishi UFJ Asset Management UK Ltd. decreased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 68.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,100 shares of the CRM provider's stock after selling 4,500 shares during the quarter. Mitsubishi UFJ Asset Management UK Ltd.'s holdings in Salesforce were worth $564,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Capital A Wealth Management LLC lifted its position in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after acquiring an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC grew its position in Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after acquiring an additional 85 shares in the last quarter. Finally, Abound Financial LLC acquired a new stake in Salesforce in the first quarter valued at approximately $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $260.30, for a total transaction of $585,675.00. Following the completion of the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at approximately $3,112,033,829.80. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 46,532 shares of company stock worth $12,082,694 in the last three months. Company insiders own 3.00% of the company's stock.
Salesforce Stock Up 4.0%
Shares of NYSE:CRM traded up $9.41 during midday trading on Friday, hitting $242.78. The stock had a trading volume of 12,936,592 shares, compared to its average volume of 6,984,759. The company has a market cap of $232.10 billion, a P/E ratio of 37.99, a PEG ratio of 2.12 and a beta of 1.37. Salesforce Inc. has a 12 month low of $226.48 and a 12 month high of $369.00. The business's 50-day simple moving average is $261.05 and its 200-day simple moving average is $276.65. 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 quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.
Salesforce Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.
Analysts Set New Price Targets
Several brokerages have issued reports on CRM. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. DA Davidson upgraded Salesforce from an "underperform" rating to a "neutral" rating and set a $225.00 price objective for the company in a research note on Friday. Royal Bank Of Canada restated a "sector perform" rating and set a $275.00 price objective on shares of Salesforce in a research note on Monday, July 14th. Erste Group Bank lowered Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, The Goldman Sachs Group raised their price objective on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Two equities research 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.50.
Check Out Our Latest Research Report on CRM
Salesforce Profile
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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.
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