Quintet Private Bank Europe S.A. Has $6.40 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Quintet Private Bank Europe S.A. cut its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 3.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,841 shares of the CRM provider's stock after selling 979 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in Salesforce were worth $6,398,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CRM. Athena Investment Management bought a new position in shares of Salesforce in the fourth quarter valued at about $236,000. Jag Capital Management LLC raised its holdings in Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after purchasing an additional 22,797 shares during the last quarter. Atlantic Union Bankshares Corp raised its holdings in Salesforce by 2.7% during the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock worth $9,146,000 after purchasing an additional 723 shares during the last quarter. Dash Acquisitions Inc. raised its holdings in Salesforce by 2.6% during the 4th quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock worth $21,785,000 after purchasing an additional 1,525 shares during the last quarter. Finally, Millstone Evans Group LLC bought a new stake in Salesforce during the 4th quarter worth about $823,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on CRM shares. Barclays dropped their price objective on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company 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 research note on Tuesday. Jefferies Financial Group lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Robert W. Baird lowered their price target on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Finally, Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $346.34.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 6,221 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at $12,967,047.50. This trade represents a 11.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Milano sold 705 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,332 shares of company stock worth $11,024,802. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of NYSE:CRM traded down $8.66 on Friday, hitting $258.25. The company had a trading volume of 7,647,008 shares, compared to its average volume of 6,545,951. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The stock has a market cap of $246.89 billion, a price-to-earnings ratio of 42.48, a P/E/G ratio of 2.58 and a beta of 1.38. The stock has a 50 day moving average price of $267.80 and a 200 day moving average price of $300.72. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The company's quarterly revenue was up 7.6% on a year-over-year basis. Analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

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.