MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Buys 55,805 Shares of Salesforce, Inc. (NYSE:CRM)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in shares of Salesforce, Inc. (NYSE:CRM) by 925.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,834 shares of the CRM provider’s stock after purchasing an additional 55,805 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Salesforce were worth $18,623,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in Salesforce during the 4th quarter worth $2,762,331,000. Capital International Investors grew its stake in shares of Salesforce by 76.4% during the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after acquiring an additional 5,935,973 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Salesforce by 1,254.7% during the fourth quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock valued at $916,693,000 after acquiring an additional 3,226,512 shares in the last quarter. Coatue Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at approximately $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its stake in Salesforce by 110.3% in 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 in the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CRM shares. Macquarie cut their target price on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Stifel Nicolaus cut their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Argus increased their price objective on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. UBS Group lowered their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. Finally, TD Cowen reduced their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Stock Down 0.0 %

CRM traded down $0.02 during trading hours on Tuesday, hitting $256.19. 5,099,313 shares of the company’s stock were exchanged, compared to its average volume of 6,962,239. The firm has a market cap of $248.25 billion, a P/E ratio of 46.13, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a 50 day moving average of $259.43 and a 200 day moving average of $276.46.

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

Salesforce Dividend Announcement

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

Insider Buying and Selling

In related news, COO Brian Millham sold 2,018 shares of Salesforce stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, COO Brian Millham sold 2,018 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director G Mason Morfit bought 428,000 shares of Salesforce stock in a transaction dated Monday, June 3rd. The stock was acquired at an average cost of $233.17 per share, with a total value of $99,796,760.00. Following the completion of the acquisition, the director now directly owns 3,914,309 shares of the company’s stock, valued at approximately $912,699,429.53. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 509,952 shares of company stock worth $139,786,753. Company insiders own 3.20% of the company’s stock.

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.