Sava Infond d.o.o. Buys 7,240 Shares of Salesforce Inc. (NYSE:CRM)

Sava Infond d.o.o. raised its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 14.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,990 shares of the CRM provider's stock after purchasing an additional 7,240 shares during the period. Salesforce accounts for approximately 2.9% of Sava Infond d.o.o.'s holdings, making the stock its 11th biggest position. Sava Infond d.o.o.'s holdings in Salesforce were worth $15,025,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $27,000. Halbert Hargrove Global Advisors LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $35,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $35,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at about $45,000. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Northland Securities decreased their target price on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. UBS Group set a $404.00 price objective on shares of Salesforce and gave the stock an "overweight" rating in a research report on Wednesday, June 18th. DA Davidson reissued an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, Bank of America reduced their price objective on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $349.08.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the firm's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares in the company, valued at $8,416,644.60. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Sundeep G. Reddy sold 1,256 shares of the firm's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the completion of the transaction, the chief accounting officer now directly owns 12,826 shares of the company's stock, valued at approximately $3,248,954.06. This represents a 8.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,992 shares of company stock worth $6,704,198 over the last three months. Corporate insiders own 3.20% of the company's stock.

Salesforce Stock Performance

Shares of CRM stock opened at $263.14 on Tuesday. The firm has a market cap of $251.56 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 2.36 and a beta of 1.38. The company's 50 day moving average is $268.69 and its 200 day moving average is $296.11. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. Salesforce's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $2.44 earnings per share. On average, sell-side analysts anticipate 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 will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.63%. Salesforce's dividend payout ratio (DPR) is 25.98%.

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.

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