Forsta AP Fonden trimmed its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 265,047 shares of the CRM provider's stock after selling 5,700 shares during the quarter. Salesforce accounts for approximately 0.5% of Forsta AP Fonden's investment portfolio, making the stock its 25th biggest holding. Forsta AP Fonden's holdings in Salesforce were worth $71,128,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its position in Salesforce by 926.4% during 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 valued at $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after purchasing an additional 3,789,147 shares during the period. Northern Trust Corp grew its stake in shares of Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Salesforce by 1,744.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider's stock valued at $488,486,000 after purchasing an additional 1,721,550 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Salesforce by 23.2% in the 4th 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 purchasing an additional 1,683,233 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.
Salesforce Stock Performance
NYSE:CRM opened at $240.63 on Friday. The company's 50-day moving average is $263.97 and its two-hundred day moving average is $280.10. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $230.04 billion, a price-to-earnings ratio of 37.66, a PEG ratio of 2.26 and a beta of 1.37.
Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.44 earnings per share. Analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.
Salesforce Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.
Insider Buying and Selling at Salesforce
In related news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider owned 41,422 shares of the company's stock, valued at approximately $12,219,490. This 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 this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Friday, July 11th. The shares were sold at an average price of $259.67, for a total value of $584,257.50. Following the completion of the transaction, the chief executive officer directly owned 11,955,566 shares of the company's stock, valued at approximately $3,104,501,823.22. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 46,479 shares of company stock valued at $12,457,591. Company insiders own 3.20% of the company's stock.
Analyst Ratings Changes
Several analysts recently commented on CRM shares. Needham & Company LLC restated a "buy" rating and set a $400.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Sanford C. Bernstein increased their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Stephens dropped their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a report on Tuesday, June 10th. Finally, Mizuho lowered their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.
Check Out Our Latest Report on Salesforce
Salesforce Company Profile
(
Free Report)
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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