Salesforce Inc. (NYSE:CRM) Shares Bought by Vision Capital Management Inc.

Vision Capital Management Inc. boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 6.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,202 shares of the CRM provider's stock after buying an additional 1,571 shares during the period. Salesforce makes up approximately 0.9% of Vision Capital Management Inc.'s investment portfolio, making the stock its 28th largest holding. Vision Capital Management Inc.'s holdings in Salesforce were worth $6,495,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock valued at $6,656,078,000 after acquiring an additional 175,035 shares during the period. Northern Trust Corp lifted its holdings in Salesforce by 18.3% in the fourth 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 during the period. Norges Bank acquired a new position in Salesforce in the fourth quarter valued at approximately $3,599,867,000. Price T Rowe Associates Inc. MD lifted its holdings in Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock valued at $2,988,422,000 after acquiring an additional 1,683,233 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Salesforce by 7.5% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,658,132 shares of the CRM provider's stock valued at $2,894,673,000 after acquiring an additional 602,445 shares during the period. Hedge funds and other institutional investors own 80.43% of the company's stock.

Salesforce Trading Down 2.2%

Shares of NYSE CRM traded down $5.74 during mid-day trading on Friday, reaching $258.23. 7,004,264 shares of the company's stock were exchanged, compared to its average volume of 6,547,931. The firm has a market capitalization of $246.87 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 2.34 and a beta of 1.36. 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. The company's 50-day moving average is $272.09 and its 200-day moving average is $288.49.

Salesforce (NYSE:CRM - Get Free Report) last released 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. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the prior year, the business posted $2.44 EPS. The company's revenue was up 7.6% compared to the same quarter last year. Analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is 25.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Oppenheimer reissued an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a report on Tuesday, June 10th. Citigroup decreased their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a report on Friday, May 30th. Royal Bank Of Canada downgraded Salesforce from an "outperform" rating to a "sector perform" rating and decreased their price target for the company from $420.00 to $275.00 in a report on Thursday, May 29th. Stephens reduced their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a research note on Friday. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider directly owned 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $272.48, for a total value of $613,080.00. Following the transaction, the chief executive officer owned 11,862,457 shares of the company's stock, valued at $3,232,282,283.36. This trade represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,284 shares of company stock valued at $9,444,537. Insiders own 3.20% of the company's stock.

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.