Salesforce Inc. (NYSE:CRM) Shares Purchased by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. increased its holdings in Salesforce by 5.0%, owning a total of 175,169 shares worth approximately $47 million as per its latest SEC filing.
• Several large investors made adjustments to their stakes in Salesforce during the first quarter, with hedge funds and institutional investors owning 80.43% of the stock.
• Salesforce's recent earnings report revealed a Q1 revenue of $9.83 billion and earnings per share of $2.58, exceeding analysts' estimates.

Scotia Capital Inc. grew its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 175,169 shares of the CRM provider's stock after buying an additional 8,374 shares during the quarter. Scotia Capital Inc.'s holdings in Salesforce were worth $47,008,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Liberty One Investment Management LLC raised its stake in Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after purchasing an additional 39 shares during the period. First Command Advisory Services Inc. lifted its stake in shares of Salesforce by 7.3% during the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after purchasing an additional 39 shares in the last quarter. Mendel Money Management boosted its holdings in Salesforce by 3.6% in the 1st quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock worth $298,000 after acquiring an additional 39 shares during the period. Clarity Wealth Advisors LLC raised its stake in shares of Salesforce by 2.3% during the first 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 during the period. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its position in shares of Salesforce by 5.2% during the first quarter. Mowery & Schoenfeld Wealth Management LLC now owns 812 shares of the CRM provider's stock worth $218,000 after purchasing an additional 40 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on CRM. Mizuho lowered their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a report on Thursday, May 15th. Wells Fargo & Company upped their price objective on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Morgan Stanley restated an "overweight" rating and set a $404.00 target price (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. UBS Group set a $404.00 price target on Salesforce and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Finally, Sanford C. Bernstein increased their price target on Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $265.77, for a total value of $597,982.50. Following the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,165,738,224.67. The trade was a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 39,729 shares of company stock valued at $10,763,881 in the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Down 2.9%

Shares of NYSE:CRM opened at $250.85 on Friday. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a market cap of $239.81 billion, a P/E ratio of 39.26, a P/E/G ratio of 2.28 and a beta of 1.37. The company has a 50 day moving average of $266.04 and a 200-day moving average of $281.92.

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 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 during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the firm posted $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

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.

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