Y.D. More Investments Ltd Sells 4,546 Shares of Salesforce, Inc. (NYSE:CRM)

Y.D. More Investments Ltd trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 18.2% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 20,405 shares of the CRM provider’s stock after selling 4,546 shares during the quarter. Y.D. More Investments Ltd’s holdings in Salesforce were worth $5,246,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Salesforce by 1.2% during the first quarter. Vanguard Group Inc. now owns 84,635,254 shares of the CRM provider’s stock valued at $25,490,446,000 after purchasing an additional 1,008,841 shares during the last quarter. Capital World Investors raised its stake in Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock valued at $5,147,402,000 after buying an additional 457,463 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Salesforce by 5.2% during the 4th quarter. Fisher Asset Management LLC now owns 14,905,462 shares of the CRM provider’s stock valued at $3,922,223,000 after buying an additional 736,986 shares during the period. Capital Research Global Investors boosted its stake in shares of Salesforce by 26.9% in the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock worth $4,329,925,000 after buying an additional 3,044,611 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of Salesforce by 3.0% in the first quarter. Capital International Investors now owns 14,116,449 shares of the CRM provider’s stock worth $4,251,592,000 after acquiring an additional 407,834 shares during the period. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on CRM shares. FBN Securities raised Salesforce to a “strong-buy” rating in a report on Thursday, August 29th. BMO Capital Markets increased their price objective on shares of Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Sanford C. Bernstein boosted their target price on shares of Salesforce from $234.00 to $236.00 and gave the company an “outperform” rating in a research report on Thursday, August 29th. JPMorgan Chase & Co. increased their price target on shares of Salesforce from $300.00 to $310.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Finally, Roth Mkm reissued a “buy” rating and set a $335.00 price objective on shares of Salesforce in a research report on Thursday, August 29th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average target price of $304.41.

Salesforce Trading Up 1.4 %

Shares of CRM opened at $249.57 on Thursday. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The company’s fifty day moving average is $253.88 and its 200 day moving average is $268.78. The stock has a market capitalization of $241.83 billion, a PE ratio of 44.89, a P/E/G ratio of 2.21 and a beta of 1.29.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.63 EPS. Sell-side analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Activity at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now directly owns 6,431 shares of the company’s stock, valued at $1,644,921.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Salesforce news, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $105,637.14. Following the transaction, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,892 shares of company stock worth $15,269,897. Company insiders own 3.20% of the company’s stock.

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.