Salesforce, Inc. (NYSE:CRM) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,650 shares of the CRM provider's stock after selling 1,027 shares during the quarter. Yousif Capital Management LLC's holdings in Salesforce were worth $31,304,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Salesforce during the 4th quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after acquiring an additional 3,841,521 shares during the period. GAMMA Investing LLC lifted its position in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after acquiring an additional 3,789,147 shares during the period. Raymond James Financial Inc. acquired a new stake in Salesforce during the 4th quarter worth about $1,173,564,000. Finally, Invesco Ltd. lifted its position in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after acquiring an additional 2,325,156 shares during the period. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Down 0.9%

CRM traded down $2.29 during trading hours on Wednesday, reaching $265.93. The company's stock had a trading volume of 6,556,774 shares, compared to its average volume of 6,578,379. Salesforce, Inc. has a fifty-two week low of $227.77 and a fifty-two week high of $369.00. The stock has a market cap of $254.23 billion, a PE ratio of 43.74, a P/E/G ratio of 2.58 and a beta of 1.38. The business's 50-day moving average is $266.84 and its 200-day moving average is $301.47. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.44 earnings per share. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date is Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares of the company's stock, valued at $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 40,332 shares of company stock valued at $11,024,802. 3.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. The Goldman Sachs Group lifted their price objective on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Morgan Stanley reiterated an "overweight" rating and set a $404.00 price objective (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Citigroup reduced their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Finally, Cantor Fitzgerald assumed coverage on Salesforce in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $325.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $346.34.

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.