Trek Financial LLC Has $393,000 Stock Holdings in Salesforce Inc. (NYSE:CRM)

Trek Financial LLC trimmed its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 87.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,465 shares of the CRM provider's stock after selling 9,775 shares during the period. Trek Financial LLC's holdings in Salesforce were worth $393,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Norges Bank bought a new position in Salesforce during the fourth quarter valued at about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake 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 buying an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC boosted its stake in Salesforce by 30,456.9% during the first quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock valued at $1,020,194,000 after buying an additional 3,789,147 shares in the last quarter. Invesco Ltd. boosted its stake in Salesforce by 42.5% during the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock valued at $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after purchasing an additional 1,736,667 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Salesforce Price Performance

Salesforce stock traded down $4.70 on Friday, reaching $259.27. The company's stock had a trading volume of 3,302,048 shares, compared to its average volume of 6,521,633. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $247.86 billion, a price-to-earnings ratio of 40.59, a PEG ratio of 2.46 and a beta of 1.36. The business's fifty day moving average price is $272.43 and its 200 day moving average price is $289.84. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $9.74 billion. During the same quarter in the prior year, the firm posted $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal 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 issued a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent analyst reports. JMP Securities reiterated a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research report on Friday. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Cantor Fitzgerald lowered Salesforce from an "overweight" rating to a "cautious" rating in a research report on Thursday. Stephens decreased their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Finally, Wells Fargo & Company raised their price objective on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Three equities research 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total value of $611,302.50. Following the completion of the sale, the chief executive officer directly owned 11,862,457 shares in the company, valued at $3,222,910,942.33. This represents a 0.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 261 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $68,473.35. Following the transaction, the chief accounting officer owned 12,024 shares of the company's stock, valued at approximately $3,154,496.40. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,284 shares of company stock valued at $9,444,537. 3.20% of the stock is owned by company insiders.

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.