Commerzbank Aktiengesellschaft FI Sells 347 Shares of Salesforce, Inc. (NYSE:CRM)

Commerzbank Aktiengesellschaft FI cut its stake in Salesforce, Inc. (NYSE:CRM) by 0.3% in the second quarter, HoldingsChannel reports. The fund owned 107,346 shares of the CRM provider’s stock after selling 347 shares during the period. Salesforce accounts for 0.9% of Commerzbank Aktiengesellschaft FI’s holdings, making the stock its 25th largest position. Commerzbank Aktiengesellschaft FI’s holdings in Salesforce were worth $27,599,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Ruedi Wealth Management Inc. raised its position in Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the last quarter. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the fourth quarter worth $26,000. Piscataqua Savings Bank raised its position in shares of Salesforce by 2,400.0% during the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC acquired a new position in shares of Salesforce during the first quarter valued at $33,000. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter worth about $31,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $285.00, for a total transaction of $4,275,000.00. Following the transaction, the chief executive officer now directly owns 12,482,327 shares in the company, valued at approximately $3,557,463,195. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $285.00, for a total value of $4,275,000.00. Following the completion of the transaction, the chief executive officer now directly owns 12,482,327 shares in the company, valued at $3,557,463,195. The disclosure for this sale can be found here. Over the last three months, insiders sold 167,936 shares of company stock valued at $42,433,769. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Down 1.3 %

CRM stock traded down $3.54 during midday trading on Tuesday, hitting $261.84. The company’s stock had a trading volume of 5,305,682 shares, compared to its average volume of 6,595,926. The company’s fifty day moving average price is $250.35 and its 200 day moving average price is $272.57. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market capitalization of $253.72 billion, a P/E ratio of 47.09, a PEG ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same quarter in the previous year, the business earned $1.15 earnings per share. Salesforce’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is presently 28.78%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Evercore ISI cut their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. BMO Capital Markets lowered their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company dropped their target price on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a research report on Thursday, May 30th. Finally, Macquarie reduced their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $291.50.

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.