MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Increases Position in Salesforce, Inc. (NYSE:CRM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Salesforce, Inc. (NYSE:CRM) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 150,355 shares of the CRM provider’s stock after purchasing an additional 7,139 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Salesforce were worth $40,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the fourth quarter valued at $27,000. Asset Planning Inc purchased a new position in Salesforce during the fourth quarter valued at $31,000. Halbert Hargrove Global Advisors LLC purchased a new position in Salesforce during the fourth quarter valued at $35,000. Finally, Wood Tarver Financial Group LLC purchased a new position in Salesforce during the fourth quarter valued at $35,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the business’s stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the completion of the sale, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. This represents a 14.44% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Down 3.2%

Shares of CRM opened at $258.25 on Friday. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The company has a 50-day moving average of $268.09 and a 200 day moving average of $299.93. The firm has a market capitalization of $246.89 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. 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) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same quarter last year, the business posted $2.44 EPS. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce’s dividend payout ratio is currently 25.98%.

Wall Street Analyst Weigh In

CRM has been the subject of several research analyst reports. Canaccord Genuity Group cut their target price on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Sanford C. Bernstein raised their target price on shares of Salesforce from $243.00 to $255.00 and gave the company an “underperform” rating in a research note on Thursday, May 29th. Northland Securities cut their target price on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a research note on Thursday, May 29th. Finally, The Goldman Sachs Group lifted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Two equities research 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 stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and a consensus 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.