Raiffeisen Bank International AG Has $71.64 Million Position in Salesforce Inc. (NYSE:CRM)

Key Points

• Raiffeisen Bank International AG increased its stake in Salesforce Inc. by 35% during the first quarter, acquiring an additional 68,821 shares, bringing its total holdings to 265,369 shares valued at approximately $71.64 million.
• Salesforce's recent quarterly earnings beat estimates with reported earnings per share of $2.58 and revenue of $9.83 billion, marking a year-over-year increase of 7.6%.
• Several analysts have adjusted their price targets for Salesforce, with Citigroup lowering its target from $320 to $295, while Goldman Sachs raised its target from $340 to $385.

Raiffeisen Bank International AG increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 35.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 265,369 shares of the CRM provider's stock after buying an additional 68,821 shares during the quarter. Salesforce accounts for about 1.1% of Raiffeisen Bank International AG's holdings, making the stock its 20th biggest holding. Raiffeisen Bank International AG's holdings in Salesforce were worth $71,640,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter worth about $27,000. Capital A Wealth Management LLC raised its position in shares of Salesforce by 450.0% during the first 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 last quarter. CBIZ Investment Advisory Services LLC raised its position in shares of Salesforce by 314.8% during the first 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 last quarter. Finally, Abound Financial LLC bought a new position in shares of Salesforce during the first quarter worth about $31,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on CRM. DA Davidson reaffirmed an "underperform" rating and set a $200.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Barclays decreased their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. UBS Group set a $404.00 price objective on Salesforce and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Wells Fargo & Company raised their price objective on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, Northland Securities reduced their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight 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 data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $348.16.

Salesforce Stock Down 2.9%

Shares of CRM stock traded down $7.48 on Friday, hitting $250.85. The stock had a trading volume of 7,643,247 shares, compared to its average volume of 5,950,044. The firm has a market capitalization of $239.81 billion, a price-to-earnings ratio of 39.26, a P/E/G ratio of 2.28 and a beta of 1.37. The stock's 50 day moving average is $266.04 and its 200-day moving average is $281.65. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00.

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. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider owned 41,422 shares of the company's stock, valued at $12,219,490. This trade represents a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $259.67, for a total transaction of $584,257.50. Following the transaction, the chief executive officer directly owned 11,955,566 shares in the company, valued at approximately $3,104,501,823.22. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,729 shares of company stock worth $10,763,881. Insiders own 3.20% of the company's stock.

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.