Mediolanum International Funds Ltd Sells 19,012 Shares of Salesforce, Inc. (NYSE:CRM)

Mediolanum International Funds Ltd lessened its stake in shares of Salesforce, Inc. (NYSE:CRM) by 7.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 244,728 shares of the CRM provider’s stock after selling 19,012 shares during the period. Salesforce comprises approximately 1.1% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 16th biggest holding. Mediolanum International Funds Ltd’s holdings in Salesforce were worth $81,963,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Infrastructure Capital Advisors LLC bought a new stake in Salesforce during the 3rd quarter valued at $27,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Salesforce in the 2nd quarter valued at approximately $33,000. Godsey & Gibb Inc. lifted its stake in shares of Salesforce by 300.0% during the third quarter. Godsey & Gibb Inc. now owns 120 shares of the CRM provider’s stock worth $33,000 after buying an additional 90 shares during the period. Annapolis Financial Services LLC lifted its position in Salesforce by 135.6% during the 3rd quarter. Annapolis Financial Services LLC now owns 139 shares of the CRM provider’s stock worth $38,000 after acquiring an additional 80 shares during the period. Finally, FSA Wealth Management LLC purchased a new stake in Salesforce in the third quarter valued at approximately $53,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In other Salesforce news, insider Parker Harris sold 3,970 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $296.74, for a total value of $1,178,057.80. Following the completion of the transaction, the insider now directly owns 119,402 shares of the company’s stock, valued at approximately $35,431,349.48. This trade represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Miguel Milano sold 719 shares of Salesforce stock in a transaction on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the transaction, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,669 shares of company stock worth $383,286,905 in the last three months. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC increased their price target on Salesforce from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, January 8th. Loop Capital increased their price objective on shares of Salesforce from $340.00 to $360.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Stifel Nicolaus lifted their price target on Salesforce from $390.00 to $425.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Royal Bank of Canada upped their price objective on shares of Salesforce from $300.00 to $420.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Finally, Barclays raised their target price on Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-one have assigned a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $377.63.

Salesforce Trading Down 3.0 %

NYSE:CRM opened at $343.51 on Friday. The stock has a market cap of $328.74 billion, a P/E ratio of 56.50, a P/E/G ratio of 3.01 and a beta of 1.30. Salesforce, Inc. has a 1 year low of $212.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day simple moving average of $338.53 and a 200-day simple moving average of $296.43.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.44 billion during the quarter, compared to analysts’ expectations of $9.35 billion. During the same quarter in the prior year, the firm posted $1.62 EPS. Salesforce’s quarterly revenue was up 8.3% compared to the same quarter last year. As a group, analysts anticipate that Salesforce, Inc. will post 7.48 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 18th were paid a $0.40 dividend. The ex-dividend date was Wednesday, December 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.47%. Salesforce’s dividend payout ratio (DPR) is currently 26.32%.

About Salesforce

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.