Salesforce Inc. (NYSE:CRM) Shares Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 47.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,681 shares of the CRM provider's stock after acquiring an additional 8,526 shares during the period. Salesforce comprises about 0.5% of Y Intercept Hong Kong Ltd's investment portfolio, making the stock its 23rd biggest holding. Y Intercept Hong Kong Ltd's holdings in Salesforce were worth $7,160,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter worth approximately $27,000. Capital A Wealth Management LLC raised its holdings in shares of Salesforce by 450.0% in the first 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 during the period. CBIZ Investment Advisory Services LLC raised its holdings in shares of Salesforce by 314.8% in the first 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 during the period. Finally, Abound Financial LLC bought a new position in Salesforce in the first quarter worth approximately $31,000. Institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

Shares of Salesforce stock traded up $0.40 on Thursday, hitting $267.62. 4,169,404 shares of the company were exchanged, compared to its average volume of 7,158,013. The stock has a market capitalization of $255.85 billion, a price-to-earnings ratio of 41.88, a price-to-earnings-growth ratio of 2.39 and a beta of 1.36. The company has a 50-day moving average price of $268.96 and a 200 day moving average price of $285.09. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. 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 (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share 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 issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. 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. Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Morgan Stanley reiterated an "overweight" rating and set a $404.00 price objective (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Finally, DA Davidson reiterated an "underperform" rating and set a $200.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $348.16.

Insider Buying and Selling

In other news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total transaction of $611,302.50. Following the sale, the chief executive officer owned 11,862,457 shares of the company's stock, valued at approximately $3,222,910,942.33. This represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the business's stock in a transaction on 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 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 disclosure for this sale can be found here. Insiders sold 31,229 shares of company stock worth $8,492,036 over the last quarter. 3.20% of the stock is currently owned by insiders.

Salesforce Company 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.