Flossbach Von Storch SE Has $231.50 Million Position in Salesforce, Inc. (NYSE:CRM)

Flossbach Von Storch SE reduced its stake in Salesforce, Inc. (NYSE:CRM) by 19.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 692,443 shares of the CRM provider’s stock after selling 163,243 shares during the period. Salesforce comprises approximately 0.9% of Flossbach Von Storch SE’s investment portfolio, making the stock its 29th largest position. Flossbach Von Storch SE’s holdings in Salesforce were worth $231,504,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CRM. Calton & Associates Inc. acquired a new stake in Salesforce during the 3rd quarter worth approximately $204,000. Pictet North America Advisors SA acquired a new stake in Salesforce during the 3rd quarter worth approximately $2,668,000. Tempus Wealth Planning LLC boosted its position in Salesforce by 18.9% during the 3rd quarter. Tempus Wealth Planning LLC now owns 1,303 shares of the CRM provider’s stock worth $357,000 after buying an additional 207 shares during the period. BLB&B Advisors LLC boosted its position in Salesforce by 24.8% during the 3rd quarter. BLB&B Advisors LLC now owns 44,537 shares of the CRM provider’s stock worth $12,190,000 after buying an additional 8,858 shares during the period. Finally, Segment Wealth Management LLC boosted its position in Salesforce by 6.7% during the 3rd quarter. Segment Wealth Management LLC now owns 9,538 shares of the CRM provider’s stock worth $2,611,000 after buying an additional 596 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of several analyst reports. Wedbush restated an “outperform” rating and set a $425.00 price target on shares of Salesforce in a report on Wednesday, December 18th. Erste Group Bank upgraded shares of Salesforce from a “hold” rating to a “buy” rating in a report on Tuesday, November 19th. Barclays raised their price target on shares of Salesforce from $415.00 to $425.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. BMO Capital Markets raised their price target on shares of Salesforce from $385.00 to $425.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Finally, Wells Fargo & Company raised their price target on shares of Salesforce from $275.00 to $330.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average target price of $376.84.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 436 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $332.28, for a total value of $144,874.08. Following the completion of the sale, the chief accounting officer now owns 7,057 shares of the company’s stock, valued at $2,344,899.96. This represents a 5.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 719 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $342.81, for a total value of $246,480.39. Following the completion of the sale, the insider now directly owns 4,659 shares of the company’s stock, valued at approximately $1,597,151.79. This represents a 13.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,117,641 shares of company stock worth $386,408,308. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 1.5 %

Shares of CRM opened at $324.19 on Thursday. The business’s 50-day moving average price is $335.02 and its 200-day moving average price is $304.66. Salesforce, Inc. has a twelve month low of $212.00 and a twelve month high of $369.00. The stock has a market cap of $310.25 billion, a PE ratio of 53.32, a P/E/G ratio of 2.62 and a beta of 1.31. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Tuesday, December 3rd. The CRM provider reported $2.41 earnings per share for the quarter, missing the consensus estimate of $2.44 by ($0.03). Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.44 billion for the quarter, compared to the consensus estimate of $9.35 billion. During the same quarter in the prior year, the company earned $1.62 earnings per share. The company’s quarterly revenue was up 8.3% on a year-over-year basis. On average, equities analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 18th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Wednesday, December 18th. Salesforce’s dividend payout ratio (DPR) is 26.32%.

Salesforce 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.