Salesforce Inc. (NYSE:CRM) Shares Acquired by Reyes Financial Architecture Inc.

Reyes Financial Architecture Inc. lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 1,029.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,096 shares of the CRM provider's stock after acquiring an additional 999 shares during the quarter. Reyes Financial Architecture Inc.'s holdings in Salesforce were worth $294,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of CRM. Norges Bank purchased a new position in Salesforce in the fourth quarter worth $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in shares of Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the period. GAMMA Investing LLC raised its position in shares of Salesforce by 30,456.9% in the first quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after acquiring an additional 3,789,147 shares during the period. Invesco Ltd. increased its stake in shares of Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Macquarie reiterated a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a report on Thursday, March 20th. Citigroup decreased their price objective on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Mizuho cut their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Royal Bank Of Canada restated a "sector perform" rating and issued a $275.00 price objective on shares of Salesforce in a research note on Monday. Finally, Stephens dropped their price objective on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $348.16.

Insider Buying and Selling

In other news, CAO Sundeep G. Reddy sold 261 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $68,473.35. Following the completion of the sale, the chief accounting officer owned 12,024 shares of the company's stock, valued at $3,154,496.40. This represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Friday, July 11th. The shares were sold at an average price of $259.67, for a total transaction of $584,257.50. Following the sale, the chief executive officer directly owned 11,955,566 shares of the company's stock, valued at approximately $3,104,501,823.22. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,534 shares of company stock valued at $10,028,795. 3.20% of the stock is owned by corporate insiders.

Salesforce Trading Down 0.5%

Shares of CRM traded down $1.31 on Tuesday, hitting $258.37. 2,428,548 shares of the stock traded hands, compared to its average volume of 6,532,426. 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 firm has a market capitalization of $247.00 billion, a P/E ratio of 40.43, a P/E/G ratio of 2.34 and a beta of 1.36. The stock's 50 day moving average is $271.83 and its two-hundred day moving average is $287.94. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00.

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

Salesforce Cuts Dividend

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's payout ratio is currently 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.