XTX Topco Ltd Has $2.56 Million Stock Position in Salesforce Inc. (NYSE:CRM)

XTX Topco Ltd trimmed its position in shares of Salesforce Inc. (NYSE:CRM) by 29.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,533 shares of the CRM provider’s stock after selling 4,039 shares during the quarter. XTX Topco Ltd’s holdings in Salesforce were worth $2,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new position in Salesforce during the 1st quarter worth about $12,081,000. RD Finance Ltd bought a new position in shares of Salesforce in the first quarter worth about $3,393,000. GSA Capital Partners LLP lifted its position in shares of Salesforce by 230.4% during the first quarter. GSA Capital Partners LLP now owns 5,710 shares of the CRM provider’s stock worth $1,532,000 after purchasing an additional 3,982 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Salesforce by 55.7% during the first quarter. Geneos Wealth Management Inc. now owns 22,025 shares of the CRM provider’s stock valued at $5,911,000 after purchasing an additional 7,881 shares during the last quarter. Finally, Renaissance Investment Group LLC increased its holdings in shares of Salesforce by 11.1% in the first quarter. Renaissance Investment Group LLC now owns 25,480 shares of the CRM provider’s stock valued at $6,838,000 after purchasing an additional 2,547 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Monday, July 28th. The stock was sold at an average price of $269.11, for a total transaction of $605,497.50. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $3,205,522,871.81. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 37,979 shares of company stock valued at $10,303,399 in the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $267.47 on Wednesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The company’s 50 day moving average price is $267.33 and its two-hundred day moving average price is $283.24. The company has a market capitalization of $255.70 billion, a P/E ratio of 41.86, a price-to-earnings-growth ratio of 2.45 and a beta of 1.36.

Salesforce (NYSE:CRM) last issued 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. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.44 earnings per share. On average, analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have commented on CRM shares. Stephens decreased their price objective on Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a research report on Friday, May 30th. Westpark Capital reiterated a “buy” rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Morgan Stanley reiterated an “overweight” rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. 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. Finally, Erste Group Bank lowered shares of Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $348.16.

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.