Motiv8 Investments LLC Has $936,000 Stake in Salesforce Inc. (NYSE:CRM)

Motiv8 Investments LLC cut its holdings in Salesforce Inc. (NYSE:CRM) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,487 shares of the CRM provider’s stock after selling 228 shares during the quarter. Motiv8 Investments LLC’s holdings in Salesforce were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CRM. Geode Capital Management LLC increased its holdings in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock valued at $6,656,078,000 after purchasing an additional 175,035 shares during the last quarter. Fisher Asset Management LLC increased its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock valued at $4,163,703,000 after acquiring an additional 177,321 shares during the last quarter. Northern Trust Corp raised its position in shares of Salesforce by 18.3% in the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the period. Norges Bank acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $3,599,867,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Salesforce by 23.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 405 shares of the firm’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider now directly owns 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 1,256 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the completion of the transaction, the chief accounting officer now directly owns 12,826 shares in the company, valued at $3,248,954.06. The trade was a 8.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,284 shares of company stock worth $6,996,762. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $268.11 on Thursday. 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 business’s 50 day moving average price is $269.39 and its two-hundred day moving average price is $295.75. The company has a market cap of $256.31 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 2.46 and a beta of 1.38. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping 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 business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the firm earned $2.44 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, June 18th. Salesforce’s payout ratio is presently 25.98%.

Analyst Ratings Changes

CRM has been the topic of several analyst reports. BMO Capital Markets cut their target price on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, May 27th. Citigroup reduced their target price on Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Bank of America lowered their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Scotiabank cut their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Finally, Westpark Capital reiterated a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $349.08.

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.