Salesforce Inc. (NYSE:CRM) Holdings Trimmed by GKV Capital Management Co. Inc.

Key Points

• GKV Capital Management Co. Inc. significantly reduced its stake in Salesforce by 86.0%, now holding 1,251 shares valued at $336,000.
• The company's most recent earnings report showed $9.83 billion in revenue with an earnings per share of $2.58, exceeding estimates.
• Salesforce's stock has a consensus price target of $348.16 with a mix of ratings from analysts, including 27 buy ratings and 3 sell ratings.

GKV Capital Management Co. Inc. cut its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 86.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,251 shares of the CRM provider's stock after selling 7,659 shares during the period. GKV Capital Management Co. Inc.'s holdings in Salesforce were worth $336,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CRM. Notis McConarty Edward grew its stake in Salesforce by 71.6% in the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock worth $1,032,000 after purchasing an additional 1,604 shares in the last quarter. Alecta Tjanstepension Omsesidigt grew its stake in Salesforce by 121.9% in the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock worth $95,222,000 after purchasing an additional 195,000 shares in the last quarter. Delaney Dennis R grew its stake in Salesforce by 66.1% in the first quarter. Delaney Dennis R now owns 5,694 shares of the CRM provider's stock worth $1,528,000 after purchasing an additional 2,266 shares in the last quarter. Journey Strategic Wealth LLC grew its stake in Salesforce by 34.5% in the first quarter. Journey Strategic Wealth LLC now owns 4,948 shares of the CRM provider's stock worth $1,328,000 after purchasing an additional 1,270 shares in the last quarter. Finally, Mathes Company Inc. grew its stake in Salesforce by 396.9% in the first quarter. Mathes Company Inc. now owns 12,298 shares of the CRM provider's stock worth $3,300,000 after purchasing an additional 9,823 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $260.30, for a total value of $585,675.00. Following the transaction, the chief executive officer owned 11,955,566 shares in the company, valued at approximately $3,112,033,829.80. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 46,532 shares of company stock valued at $12,082,694 in the last quarter. Insiders own 3.00% of the company's stock.

Salesforce Price Performance

NYSE:CRM traded down $3.67 during midday trading on Thursday, hitting $233.37. 7,533,200 shares of the stock were exchanged, compared to its average volume of 7,190,572. Salesforce Inc. has a one year low of $226.48 and a one year high of $369.00. The company has a market capitalization of $223.10 billion, a price-to-earnings ratio of 36.52, a P/E/G ratio of 2.10 and a beta of 1.37. The business has a 50-day moving average price of $261.72 and a two-hundred day moving average price of $277.44. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

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 (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.44 earnings per share. Sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current 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%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Oppenheimer reiterated an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a research note on Tuesday, June 10th. Mizuho decreased their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Royal Bank Of Canada restated a "sector perform" rating and issued a $275.00 target price on shares of Salesforce in a research note on Monday, July 14th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Finally, Stephens decreased 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. Three investment 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 issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $346.84.

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.