Salesforce Inc. (NYSE:CRM) Holdings Lifted by Generali Powszechne Towarzystwo Emerytalne

Key Points

• Generali Powszechne Towarzystwo Emerytalne significantly increased its stake in Salesforce Inc. (NYSE:CRM) by 198.8%, making Salesforce its 9th largest position, worth $16.1 million by the end of the reporting period.
• Analysts have mixed ratings for Salesforce, with three sell ratings, eight hold ratings, twenty-seven buy ratings, and an average target price of $348.16.
• Salesforce reported earnings of $2.58 per share, beating consensus estimates, and a revenue of $9.83 billion, which exceeded analyst expectations, marking a 7.6% increase year-over-year.

Generali Powszechne Towarzystwo Emerytalne lifted its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 198.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,118 shares of the CRM provider's stock after purchasing an additional 40,000 shares during the period. Salesforce comprises about 5.1% of Generali Powszechne Towarzystwo Emerytalne's holdings, making the stock its 9th largest holding. Generali Powszechne Towarzystwo Emerytalne's holdings in Salesforce were worth $16,133,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Liberty One Investment Management LLC lifted its holdings 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 worth $849,000 after buying an additional 39 shares during the last quarter. First Command Advisory Services Inc. lifted its holdings in Salesforce by 7.3% during the 1st quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after buying an additional 39 shares during the last quarter. Mendel Money Management lifted its holdings in Salesforce by 3.6% during the 1st quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock worth $298,000 after buying an additional 39 shares during the last quarter. Clarity Wealth Advisors LLC lifted its holdings in Salesforce by 2.3% during the 1st quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock worth $472,000 after buying an additional 40 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Salesforce by 5.2% during the 1st quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock worth $218,000 after buying an additional 40 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $265.77, for a total value of $597,982.50. Following the sale, the chief executive officer owned 11,911,571 shares of the company's stock, valued at approximately $3,165,738,224.67. This represents a 0.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 39,729 shares of company stock valued at $10,763,881. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CRM. Wells Fargo & Company lifted their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Westpark Capital reissued a "buy" rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Finally, DA Davidson reissued an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Salesforce Price Performance

Shares of CRM traded down $7.48 on Friday, reaching $250.85. The stock had a trading volume of 7,643,247 shares, compared to its average volume of 5,567,701. The firm has a market capitalization of $239.81 billion, a PE ratio of 39.26, a PEG ratio of 2.28 and a beta of 1.37. 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 50-day moving average of $266.04 and a 200 day moving average of $281.92. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00.

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

Salesforce Cuts Dividend

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

Salesforce 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.