Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Sells 51,334 Shares of Salesforce Inc. (NYSE:CRM)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lowered its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 72.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,061 shares of the CRM provider's stock after selling 51,334 shares during the quarter. Salesforce accounts for 1.0% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s investment portfolio, making the stock its 29th largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Salesforce were worth $5,115,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the 4th quarter worth $27,000. Capital A Wealth Management LLC grew its stake in shares of 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 during the period. CBIZ Investment Advisory Services LLC grew its stake in shares of Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after acquiring an additional 85 shares during the period. Finally, Abound Financial LLC bought a new position in shares of Salesforce during the 1st quarter worth $31,000. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CRM. 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 report on Thursday, July 10th. Canaccord Genuity Group lowered their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a report on Wednesday, May 28th. The Goldman Sachs Group raised their price target on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a report on Tuesday, June 10th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider directly owned 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total value of $611,302.50. Following the transaction, the chief executive officer owned 11,862,457 shares in the company, valued at $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,229 shares of company stock worth $8,492,036 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Salesforce Price Performance

Salesforce stock traded up $3.55 during midday trading on Wednesday, reaching $267.14. 5,610,168 shares of the stock traded hands, compared to its average volume of 6,568,795. 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 stock's fifty day moving average is $270.45 and its 200-day moving average is $285.85. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The stock has a market cap of $255.39 billion, a P/E ratio of 41.81, a PEG ratio of 2.38 and a beta of 1.36.

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

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders 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 annualized dividend and a yield of 0.62%. Salesforce's payout ratio is currently 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.