Salesforce Inc. (NYSE:CRM) Stake Raised by Lazari Capital Management Inc.

Lazari Capital Management Inc. increased its holdings in Salesforce Inc. (NYSE:CRM) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,623 shares of the CRM provider’s stock after buying an additional 117 shares during the quarter. Lazari Capital Management Inc.’s holdings in Salesforce were worth $1,509,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Salesforce in the fourth quarter worth $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares during the period. GAMMA Investing LLC grew its position in Salesforce by 30,456.9% in the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock valued at $1,020,194,000 after buying an additional 3,789,147 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Salesforce during the 4th quarter valued at about $1,173,564,000. Finally, Invesco Ltd. raised its position in shares of Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock worth $2,604,770,000 after buying an additional 2,325,156 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now directly owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Miguel Milano sold 705 shares of the business’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the sale, the insider now owns 9,323 shares of the company’s stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 24,992 shares of company stock valued at $6,704,198 over the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 1.0%

Salesforce stock opened at $263.14 on Tuesday. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $251.56 billion, a P/E ratio of 41.18, a P/E/G ratio of 2.36 and a beta of 1.38. The company’s fifty day simple moving average is $268.69 and its 200-day simple moving average is $296.11.

Salesforce (NYSE:CRM) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Wall Street Analyst Weigh In

CRM has been the subject of several recent analyst reports. Citigroup decreased their price objective on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Stifel Nicolaus cut their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Loop Capital lowered their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research report on Thursday, February 27th. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Barclays dropped their price target on shares of Salesforce from $425.00 to $347.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $349.08.

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.