one8zero8 LLC Has $469,000 Holdings in Salesforce Inc. (NYSE:CRM)

one8zero8 LLC lifted its holdings in Salesforce Inc. (NYSE:CRM) by 2.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,748 shares of the CRM provider’s stock after acquiring an additional 41 shares during the quarter. one8zero8 LLC’s holdings in Salesforce were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in Salesforce by 926.4% during the 4th 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 buying an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock worth $1,020,194,000 after buying an additional 3,789,147 shares in the last quarter. Invesco Ltd. lifted its holdings in 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. Northern Trust Corp lifted its holdings in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock worth $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in Salesforce by 1,744.0% during the 1st quarter. Pacer Advisors Inc. now owns 1,820,262 shares of the CRM provider’s stock worth $488,486,000 after buying an additional 1,721,550 shares in the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the firm’s stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $266.56, for a total value of $599,760.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,175,148,365.76. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last three months, insiders have sold 33,479 shares of company stock valued at $9,091,796. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CRM. Jefferies Financial Group reduced their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Mizuho reduced their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating on the stock in a report on Thursday, May 15th. BMO Capital Markets reduced their price objective on Salesforce from $350.00 to $335.00 and set an “outperform” rating on the stock in a report on Thursday, July 10th. Erste Group Bank downgraded Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Finally, Wells Fargo & Company upped their target price on shares of Salesforce from $255.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $348.16.

Salesforce Trading Up 0.5%

Salesforce stock opened at $269.11 on Friday. The firm has a 50-day moving average of $268.07 and a 200-day moving average of $283.98. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market cap of $257.27 billion, a price-to-earnings ratio of 42.11, a P/E/G ratio of 2.44 and a beta of 1.36.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the prior year, the business posted $2.44 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is currently 25.98%.

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.