Salesforce, Inc. (NYSE:CRM) Shares Bought by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM – Free Report) by 34.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,210 shares of the CRM provider’s stock after buying an additional 26,478 shares during the quarter. Salesforce makes up approximately 1.1% of Commerzbank Aktiengesellschaft FI’s investment portfolio, making the stock its 24th biggest holding. Commerzbank Aktiengesellschaft FI’s holdings in Salesforce were worth $27,422,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Bear Mountain Capital Inc. purchased a new position in Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter worth $31,000. BKM Wealth Management LLC purchased a new position in Salesforce in the fourth quarter worth $34,000. Pacifica Partners Inc. grew its holdings in Salesforce by 333.3% in the fourth quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 100 shares during the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in Salesforce by 892.9% in the fourth quarter. AlphaMark Advisors LLC now owns 139 shares of the CRM provider’s stock worth $37,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have issued reports on CRM. TheStreet raised shares of Salesforce from a “c+” rating to a “b-” rating in a report on Friday, January 19th. JMP Securities reaffirmed a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price objective (up from $325.00) on shares of Salesforce in a research note on Friday, April 12th. Canaccord Genuity Group reiterated a “buy” rating and set a $350.00 price objective on shares of Salesforce in a research note on Thursday, March 7th. Finally, Robert W. Baird lifted their price objective on shares of Salesforce from $310.00 to $355.00 and gave the stock an “outperform” rating in a research note on Thursday, February 29th. Nine research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $307.87.
View Our Latest Stock Analysis on CRM
Salesforce Price Performance
Shares of CRM stock traded down $1.55 during mid-day trading on Friday, hitting $270.37. 4,913,553 shares of the stock were exchanged, compared to its average volume of 4,856,009. The company has a market cap of $262.26 billion, a PE ratio of 64.37, a price-to-earnings-growth ratio of 2.08 and a beta of 1.28. Salesforce, Inc. has a 52-week low of $190.57 and a 52-week high of $318.71. The firm has a fifty day moving average of $297.28 and a 200 day moving average of $262.29. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The firm had revenue of $9.29 billion for the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a net margin of 11.87% and a return on equity of 10.42%. Salesforce’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $1.01 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.45 earnings per share for the current year.
Salesforce Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, April 11th. Investors of record on Thursday, March 14th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Wednesday, March 13th. Salesforce’s dividend payout ratio is presently 9.52%.
Insider Activity at Salesforce
In related news, CFO Amy E. Weaver sold 7,074 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.00, for a total value of $2,009,016.00. Following the transaction, the chief financial officer now directly owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Salesforce news, insider Srinivas Tallapragada sold 10,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.11, for a total value of $2,841,100.00. Following the completion of the sale, the insider now owns 60,976 shares in the company, valued at approximately $17,323,891.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 7,074 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $284.00, for a total transaction of $2,009,016.00. Following the completion of the sale, the chief financial officer now owns 38,993 shares of the company’s stock, valued at approximately $11,074,012. The disclosure for this sale can be found here. In the last three months, insiders have sold 628,184 shares of company stock valued at $184,794,698. 3.70% of the stock is owned by corporate insiders.
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.
Further Reading
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