Trivant Custom Portfolio Group LLC Lowers Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Trivant Custom Portfolio Group LLC lowered its position in Salesforce, Inc. (NYSE:CRM) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,247 shares of the CRM provider’s stock after selling 256 shares during the period. Salesforce makes up about 2.0% of Trivant Custom Portfolio Group LLC’s investment portfolio, making the stock its 23rd biggest position. Trivant Custom Portfolio Group LLC’s holdings in Salesforce were worth $3,086,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CRM. Norges Bank purchased a new stake in Salesforce in the 4th quarter valued at approximately $2,762,331,000. Capital International Investors lifted its stake in Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares in the last quarter. Cerity Partners LLC lifted its stake in shares of Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares during the period. Coatue Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the transaction, the insider now owns 105,837 shares in the company, valued at $31,936,314.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total value of $1,267,350.00. Following the transaction, the insider now owns 105,837 shares in the company, valued at $31,936,314.75. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Brian Millham sold 1,678 shares of Salesforce stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the transaction, the chief operating officer now owns 1,662 shares in the company, valued at approximately $402,735.84. The disclosure for this sale can be found here. Insiders have sold 547,387 shares of company stock worth $151,174,635 over the last quarter. 3.20% of the stock is currently owned by company insiders.

Salesforce Stock Performance

Shares of CRM traded up $4.25 during mid-day trading on Friday, reaching $257.10. 12,619,303 shares of the company’s stock traded hands, compared to its average volume of 11,223,949. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a market capitalization of $249.13 billion, a P/E ratio of 46.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The business’s 50-day moving average price is $259.79 and its 200-day moving average price is $276.34.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business had revenue of $9.13 billion for the quarter, compared to analyst estimates of $9.15 billion. During the same quarter last year, the business earned $1.15 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce’s dividend payout ratio is presently 7.19%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CRM shares. Wells Fargo & Company reduced their price target on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 30th. KeyCorp initiated coverage on Salesforce in a research report on Thursday, March 21st. They issued a “sector weight” rating on the stock. Sanford C. Bernstein increased their target price on Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research report on Thursday, May 30th. Barclays cut their target price on Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Finally, Canaccord Genuity Group cut 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, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.79.

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.