Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. lowered its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 72.9% in the first quarter, according to the company in 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 period. Salesforce comprises about 1.0% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s portfolio, making the stock its 29th largest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.'s holdings in Salesforce were worth $5,115,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Seven Mile Advisory increased its stake in Salesforce by 2.3% during the 4th quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after purchasing an additional 39 shares in the last quarter. Liberty One Investment Management LLC increased its stake in Salesforce by 1.2% during 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 in the last quarter. First Command Advisory Services Inc. increased its stake in Salesforce by 7.3% during 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 in the last quarter. Clarity Wealth Advisors LLC increased its stake in Salesforce by 2.3% during 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 in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its stake in Salesforce by 5.2% during 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 in the last quarter. Institutional investors own 80.43% of the company's stock.
Analyst Ratings Changes
A number of analysts have weighed in on CRM shares. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Cantor Fitzgerald cut shares of Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. JMP Securities restated a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a research note on Friday, July 11th. Finally, Barclays lowered their target price 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. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $348.16.
Read Our Latest Report on CRM
Salesforce Trading Up 0.2%
Shares of NYSE:CRM traded up $0.40 on Thursday, hitting $267.62. 5,870,665 shares of the company's stock were exchanged, compared to its average volume of 7,174,483. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The stock has a market capitalization of $255.85 billion, a price-to-earnings ratio of 41.88, a price-to-earnings-growth ratio of 2.39 and a beta of 1.36. The business's 50 day simple moving average is $268.96 and its two-hundred day simple moving average is $285.09. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.
Salesforce (NYSE:CRM - Get Free Report) last released its 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. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business 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 company earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. Analysts anticipate 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 was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.
Insider Activity
In related news, insider Miguel Milano sold 405 shares of Salesforce stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $262.93, for a total transaction of $591,592.50. Following the completion of the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,131,909,363.03. This trade represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,229 shares of company stock valued at $8,492,036. Insiders own 3.20% of the company's stock.
About Salesforce
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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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