Y.D. More Investments Ltd Decreases Holdings in Salesforce Inc. (NYSE:CRM)

Key Points

• Y.D. More Investments Ltd reduced its position in Salesforce Inc. by 22.7%, owning 14,683 shares worth approximately $3.94 million after selling 4,300 shares.
• Salesforce's recent earnings report showed an EPS of $2.58, surpassing analysts' expectations, with revenue of $9.83 billion reflecting a year-over-year increase of 7.6%.
• The company has a current market capitalization of $237.92 billion and offers a quarterly dividend with a yield of 0.7%.

Y.D. More Investments Ltd lowered its stake in Salesforce Inc. (NYSE:CRM - Free Report) by 22.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,683 shares of the CRM provider's stock after selling 4,300 shares during the quarter. Y.D. More Investments Ltd's holdings in Salesforce were worth $3,940,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $35,000. Capital A Wealth Management LLC increased its position in Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC increased its position in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the period. Institutional investors own 80.43% of the company's stock.

Insider Activity

In other news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $248.40, for a total transaction of $558,900.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $2,958,834,236.40. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 46,479 shares of company stock worth $12,457,591. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on CRM. JMP Securities reissued a "market outperform" rating and set a $430.00 target price on shares of Salesforce in a research report on Friday, July 11th. Mizuho decreased their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research report on Thursday, May 15th. DA Davidson reissued an "underperform" rating and set a $200.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Three investment 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 issued a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Down 0.3%

NYSE:CRM traded down $0.79 during trading hours on Friday, hitting $240.09. 8,807,591 shares of the company traded hands, compared to its average volume of 5,971,969. 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's 50-day simple moving average is $263.47 and its 200-day simple moving average is $279.50. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a market cap of $229.53 billion, a PE ratio of 37.57, a PEG ratio of 2.19 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share 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 analysts' expectations of $9.74 billion. During the same period last year, the business earned $2.44 EPS. The business's revenue was up 7.6% on a year-over-year basis. Equities analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce's dividend payout ratio (DPR) is currently 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.