Kintegral Advisory LLC cut its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,370 shares of the CRM provider’s stock after selling 52 shares during the quarter. Salesforce makes up 0.8% of Kintegral Advisory LLC’s portfolio, making the stock its 24th biggest holding. Kintegral Advisory LLC’s holdings in Salesforce were worth $9,387,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Painted Porch Advisors LLC increased its stake in shares of Salesforce by 260.0% in the second quarter. Painted Porch Advisors LLC now owns 90 shares of the CRM provider’s stock worth $25,000 after acquiring an additional 65 shares during the last quarter. Capital A Wealth Management LLC increased its position in Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock worth $30,000 after buying an additional 90 shares during the last quarter. CBIZ Investment Advisory Services LLC increased 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 during the last quarter. Abound Financial LLC acquired a new position in Salesforce during the first quarter worth $31,000. Finally, Christopher J. Hasenberg Inc increased its position in Salesforce by 383.3% during the second quarter. Christopher J. Hasenberg Inc now owns 116 shares of the CRM provider’s stock worth $32,000 after buying an additional 92 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.
Salesforce Stock Performance
CRM stock opened at $242.11 on Monday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.12 and a quick ratio of 1.12. The company has a 50 day moving average price of $244.68 and a 200 day moving average price of $258.64. Salesforce Inc. has a fifty-two week low of $226.48 and a fifty-two week high of $369.00. The stock has a market capitalization of $230.49 billion, a PE ratio of 35.19, a price-to-earnings-growth ratio of 2.09 and a beta of 1.19.
Salesforce Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 17th were issued a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, September 17th. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. Salesforce’s payout ratio is 24.13%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Royal Bank Of Canada lowered their target price on shares of Salesforce from $275.00 to $250.00 and set a “sector perform” rating on the stock in a research report on Thursday, September 4th. Canaccord Genuity Group decreased their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, September 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Salesforce in a research report on Saturday, September 27th. Barclays cut their target price on shares of Salesforce from $347.00 to $316.00 and set an “overweight” rating for the company in a research note on Monday, August 18th. Finally, Wall Street Zen upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a research note on Saturday. Twenty-six analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $331.89.
Get Our Latest Stock Report on Salesforce
Insider Buying and Selling at Salesforce
In other news, Director David Blair Kirk purchased 3,400 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was bought at an average price of $254.66 per share, with a total value of $865,844.00. Following the acquisition, the director directly owned 3,824 shares of the company’s stock, valued at approximately $973,819.84. This represents a 801.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $240.34, for a total transaction of $540,765.00. Following the completion of the transaction, the chief executive officer directly owned 11,911,571 shares of the company’s stock, valued at approximately $2,862,826,974.14. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 76,500 shares of company stock valued at $19,049,130 in the last three months. 3.00% of the stock is owned by company insiders.
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.
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