Salesforce Inc. (NYSE:CRM) Shares Sold by Triglav Skladi D.O.O.

Key Points

• Triglav Skladi D.O.O. reduced its holdings in Salesforce Inc. by 14.1% in the first quarter, resulting in 89,449 shares owned, which represent about 2.0% of their total portfolio.
• Salesforce reported an EPS of $2.58 for the last quarter, surpassing analyst expectations of $2.55, and had a revenue of $9.83 billion.
• The company's stock has seen a 0.6% decline and is currently valued at around $231.40, with analysts setting an average price target of $348.16.

Triglav Skladi D.O.O. cut its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,449 shares of the CRM provider's stock after selling 14,670 shares during the period. Salesforce comprises about 2.0% of Triglav Skladi D.O.O.'s holdings, making the stock its 14th largest position. Triglav Skladi D.O.O.'s holdings in Salesforce were worth $24,003,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Notis McConarty Edward grew its holdings in shares of Salesforce by 71.6% during 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 during the last quarter. Alecta Tjanstepension Omsesidigt grew its holdings in shares of Salesforce by 121.9% during 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 during the last quarter. Delaney Dennis R grew its holdings in shares of Salesforce by 66.1% during 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 during the last quarter. Journey Strategic Wealth LLC grew its holdings in shares of Salesforce by 34.5% during 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 during the last quarter. Finally, Mathes Company Inc. grew its holdings in shares of Salesforce by 396.9% during 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 during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CRM. Mizuho lowered their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a report on Thursday, May 15th. Wells Fargo & Company raised their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. Cantor Fitzgerald lowered Salesforce from an "overweight" rating to a "cautious" rating in a report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Finally, Stephens lowered their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of "Moderate Buy" and an average price target of $346.84.

Salesforce Trading Down 1.5%

Shares of CRM stock traded down $3.67 on Thursday, reaching $233.37. 7,533,200 shares of the stock were exchanged, compared to its average volume of 6,899,392. The stock has a market cap of $223.10 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $261.72 and a two-hundred day moving average of $277.44. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same period in the prior year, the company earned $2.44 EPS. The firm's revenue was up 7.6% on a year-over-year basis. On average, research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Insiders Place Their Bets

In other news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $260.30, for a total value of $585,675.00. Following the sale, the chief executive officer owned 11,955,566 shares in the company, valued at approximately $3,112,033,829.80. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last three months, insiders have sold 46,532 shares of company stock valued at $12,082,694. Corporate insiders own 3.00% of the company's stock.

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.