Salesforce, Inc. (NYSE:CRM) Shares Sold by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI trimmed its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 102,855 shares of the CRM provider’s stock after selling 4,329 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Salesforce were worth $34,388,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Jennison Associates LLC raised its stake in Salesforce by 52.7% during the fourth quarter. Jennison Associates LLC now owns 4,433,785 shares of the CRM provider’s stock worth $1,482,347,000 after acquiring an additional 1,530,572 shares during the period. Swedbank AB grew its holdings in shares of Salesforce by 46.7% during the fourth quarter. Swedbank AB now owns 3,829,773 shares of the CRM provider’s stock valued at $1,280,408,000 after purchasing an additional 1,219,254 shares during the last quarter. KBC Group NV raised its position in shares of Salesforce by 171.2% during the 3rd quarter. KBC Group NV now owns 1,634,834 shares of the CRM provider’s stock worth $447,470,000 after purchasing an additional 1,032,068 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Salesforce by 56,872.2% in the 4th quarter. Proficio Capital Partners LLC now owns 933,204 shares of the CRM provider’s stock worth $311,998,000 after purchasing an additional 931,566 shares during the last quarter. Finally, State Street Corp boosted its position in Salesforce by 1.8% during the 3rd quarter. State Street Corp now owns 49,007,404 shares of the CRM provider’s stock valued at $13,432,855,000 after purchasing an additional 864,193 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Salesforce Trading Down 1.8 %

Shares of CRM opened at $292.60 on Tuesday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 1-year low of $212.00 and a 1-year high of $369.00. The stock has a market capitalization of $280.02 billion, a P/E ratio of 48.13, a P/E/G ratio of 2.58 and a beta of 1.31. The business’s 50-day moving average price is $328.10 and its 200 day moving average price is $308.16.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). The firm had revenue of $9.44 billion for the quarter, compared to analyst estimates of $9.35 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 EPS. Analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.55%. The ex-dividend date was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is currently 25.16%.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 317,105 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $346.78, for a total value of $109,965,671.90. Following the completion of the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at approximately $4,217,696,838.46. This represents a 2.54 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director G Mason Morfit sold 722,300 shares of Salesforce stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $346.11, for a total value of $249,995,253.00. Following the transaction, the director now directly owns 3,192,009 shares in the company, valued at approximately $1,104,786,234.99. This trade represents a 18.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,102,572 shares of company stock valued at $381,283,706 in the last three months. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CRM. Canaccord Genuity Group dropped their target price on Salesforce from $415.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Bank of America reduced their target price on shares of 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 raised their price target on shares of Salesforce from $330.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Finally, TD Cowen raised Salesforce from a “hold” rating to a “buy” rating and lifted their price target for the company from $380.00 to $400.00 in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $365.32.

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.