Generali Investments Towarzystwo Funduszy Inwestycyjnych Has $1.25 Million Stock Holdings in Salesforce Inc. (NYSE:CRM)

Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in Salesforce Inc. (NYSE:CRM) by 14.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,650 shares of the CRM provider’s stock after buying an additional 600 shares during the period. Generali Investments Towarzystwo Funduszy Inwestycyjnych’s holdings in Salesforce were worth $1,248,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth about $27,000. Capital A Wealth Management LLC increased its stake in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 90 shares during the period. CBIZ Investment Advisory Services LLC grew its position in Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after buying an additional 85 shares in the last quarter. Finally, Abound Financial LLC acquired a new stake in Salesforce during the first quarter worth about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction that occurred on Friday, July 11th. The shares were sold at an average price of $259.67, for a total transaction of $584,257.50. Following the completion of the transaction, the chief executive officer directly owned 11,955,566 shares in the company, valued at $3,104,501,823.22. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the transaction, the insider owned 41,422 shares of the company’s stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,729 shares of company stock valued at $10,763,881. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CRM shares. Morgan Stanley reaffirmed an “overweight” rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Northland Securities dropped their target price on Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a research report on Thursday, May 29th. Citigroup dropped their target price on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Finally, Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an “underperform” rating in a research report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $348.16.

Salesforce Trading Down 2.9%

Shares of CRM stock opened at $250.85 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $239.81 billion, a P/E ratio of 39.26, a price-to-earnings-growth ratio of 2.28 and a beta of 1.37. The stock has a 50 day simple moving average of $266.04 and a 200 day simple moving average of $281.92. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00.

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

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

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.