Sustainable Insight Capital Management LLC Has $241,000 Stock Position in Salesforce Inc. (NYSE:CRM)

Key Points

• Sustainable Insight Capital Management LLC reduced its stake in Salesforce by 73.6%, now holding only 899 shares worth $241,000 after selling 2,512 shares.
• Institutional investors own approximately 80.43% of Salesforce's stock, with several hedge funds recently increasing their holdings.
• Salesforce reported better-than-expected results for its latest quarter, with an earnings per share (EPS) of $2.58, surpassing analysts' consensus estimate of $2.55.

Sustainable Insight Capital Management LLC lowered its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 73.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 899 shares of the CRM provider's stock after selling 2,512 shares during the period. Sustainable Insight Capital Management LLC's holdings in Salesforce were worth $241,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce in the 4th quarter worth $27,000. Capital A Wealth Management LLC raised its stake in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock worth $30,000 after buying an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC raised its stake in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares in the last quarter. Finally, Abound Financial LLC bought a new stake in shares of Salesforce in the 1st quarter worth $31,000. Institutional investors own 80.43% of the company's stock.

Insider Activity

In related news, insider Srinivas Tallapragada sold 6,697 shares of the business's 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 completion of the transaction, the insider owned 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $259.67, for a total value of $584,257.50. Following the transaction, the chief executive officer directly owned 11,955,566 shares of the company's stock, valued at $3,104,501,823.22. This represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 50,979 shares of company stock valued at $13,530,369 in the last three months. 3.00% of the stock is owned by insiders.

Salesforce Stock Down 0.6%

Shares of CRM traded down $1.28 during trading hours on Tuesday, hitting $231.40. 13,176,549 shares of the company were exchanged, compared to its average volume of 6,272,324. The company has a market cap of $221.22 billion, a PE ratio of 36.21, a PEG ratio of 2.11 and a beta of 1.37. The firm's 50 day moving average is $262.23 and its 200-day moving average is $277.72. Salesforce Inc. has a 52 week low of $226.48 and a 52 week high of $369.00. 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 (NYSE:CRM - Get Free Report) last released 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 company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm's revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.44 EPS. On average, equities research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors 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 of this dividend was Wednesday, June 18th. Salesforce's payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

CRM has been the topic of a number of recent analyst reports. Westpark Capital reaffirmed a "buy" rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Canaccord Genuity Group cut their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. The Goldman Sachs Group boosted their target price on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Mizuho cut their target price on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research report on Thursday, May 15th. Finally, Stephens cut 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. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

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.