Salesforce, Inc. (NYSE:CRM) Shares Sold by Beck Bode LLC

Beck Bode LLC decreased its holdings in Salesforce, Inc. (NYSE:CRM) by 37.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,949 shares of the CRM provider’s stock after selling 2,380 shares during the quarter. Beck Bode LLC’s holdings in Salesforce were worth $1,015,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Elo Mutual Pension Insurance Co increased its position in shares of Salesforce by 0.6% during the second quarter. Elo Mutual Pension Insurance Co now owns 89,005 shares of the CRM provider’s stock worth $22,883,000 after acquiring an additional 557 shares during the period. Waterloo Capital L.P. raised its holdings in Salesforce by 42.5% in the second quarter. Waterloo Capital L.P. now owns 1,533 shares of the CRM provider’s stock valued at $394,000 after acquiring an additional 457 shares in the last quarter. Shariaportfolio Inc. lifted its stake in Salesforce by 16.6% in the second quarter. Shariaportfolio Inc. now owns 4,316 shares of the CRM provider’s stock worth $1,110,000 after acquiring an additional 616 shares during the last quarter. Zega Financial LLC purchased a new stake in shares of Salesforce in the 2nd quarter valued at approximately $270,000. Finally, XN LP raised its holdings in shares of Salesforce by 24.2% in the 2nd quarter. XN LP now owns 464,489 shares of the CRM provider’s stock valued at $119,420,000 after purchasing an additional 90,616 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, Director Oscar Munoz bought 2,051 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the completion of the purchase, the director now owns 7,026 shares of the company’s stock, valued at approximately $1,712,165.94. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Salesforce news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the completion of the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Oscar Munoz acquired 2,051 shares of Salesforce stock in a transaction dated Friday, June 21st. The stock was purchased at an average cost of $243.69 per share, for a total transaction of $499,808.19. Following the completion of the purchase, the director now directly owns 7,026 shares in the company, valued at $1,712,165.94. The disclosure for this purchase can be found here. Insiders have sold a total of 62,376 shares of company stock valued at $15,878,005 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Down 0.6 %

Shares of CRM opened at $255.32 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The stock has a market cap of $247.41 billion, a price-to-earnings ratio of 45.92, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. The firm has a 50 day simple moving average of $253.61 and a 200-day simple moving average of $267.11.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The company had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.63 earnings per share. Equities analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. BNP Paribas raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on Salesforce from $250.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 29th. Morgan Stanley increased their price target on shares of Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Roth Mkm restated a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus price target of $305.55.

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.