Xponance Inc. Buys 11,411 Shares of Salesforce Inc. (NYSE:CRM)

Xponance Inc. grew its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 215,150 shares of the CRM provider's stock after purchasing an additional 11,411 shares during the period. Salesforce makes up approximately 0.6% of Xponance Inc.'s investment portfolio, making the stock its 24th largest holding. Xponance Inc.'s holdings in Salesforce were worth $57,738,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new position in Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $27,000. Abound Financial LLC acquired a new position in shares of Salesforce in the 1st quarter valued at $31,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Salesforce in the 4th quarter valued at $45,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 1,269 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $332,922.15. Following the sale, the insider directly owned 42,678 shares in the company, valued at $11,196,573.30. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Miguel Milano sold 405 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,534 shares of company stock valued at $10,028,795 in the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Northland Securities decreased their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Morgan Stanley reiterated an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Finally, Oppenheimer restated an "outperform" rating and set a $370.00 price objective on shares of Salesforce in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Performance

NYSE CRM traded up $1.38 during trading on Monday, hitting $259.45. The company's stock had a trading volume of 6,529,578 shares, compared to its average volume of 6,547,874. 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 price of $272.09 and a 200 day moving average price of $288.49. The firm has a market cap of $248.03 billion, a P/E ratio of 40.60, a price-to-earnings-growth ratio of 2.34 and a beta of 1.36. 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 issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for 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 company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. Equities research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

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.