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

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Salesforce, Inc. (NYSE:CRM) by 925.6% during the 1st quarter, according to the company in its most recent filing with the 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 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Capital World Investors grew its position in Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after acquiring an additional 457,463 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Salesforce by 5.3% during the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock worth $3,926,323,000 after purchasing an additional 752,566 shares during the last quarter. Capital International Investors increased its stake in shares of Salesforce by 76.4% in the fourth 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. Norges Bank bought a new position in shares of Salesforce in the fourth quarter valued at about $2,762,331,000. Finally, Parnassus Investments LLC lifted its position in Salesforce by 0.3% during the 4th quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after buying an additional 18,397 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Down 0.0 %

Salesforce stock traded down $0.02 during midday trading on Tuesday, reaching $256.19. The stock had a trading volume of 5,099,313 shares, compared to its average volume of 6,962,239. The stock has a market capitalization 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. The firm’s fifty day simple moving average is $259.43 and its 200-day simple moving average is $276.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (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 company had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the company earned $1.15 earnings per share. The firm’s revenue was up 10.7% compared to the same quarter last year. As a group, analysts expect 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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s payout ratio is 7.19%.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 2,018 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was 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 can be accessed through this link. In related news, COO Brian Millham sold 2,018 shares of the firm’s stock in a transaction dated 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 can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 509,952 shares of company stock valued at $139,786,753. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CRM has been the subject of a number of research analyst reports. Macquarie dropped their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. Citigroup lowered their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Evercore ISI cut their price target on Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Robert W. Baird lowered their price objective on Salesforce from $355.00 to $295.00 and set an “outperform” 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus 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.