Salesforce, Inc. (NYSE:CRM) Position Reduced by Generali Investments Management Co LLC

Generali Investments Management Co LLC trimmed its position in Salesforce, Inc. (NYSE:CRM) by 55.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,607 shares of the CRM provider’s stock after selling 12,959 shares during the period. Generali Investments Management Co LLC’s holdings in Salesforce were worth $2,846,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new position in Salesforce during the fourth quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $27,000. Arlington Trust Co LLC boosted its position in shares of Salesforce by 85.1% during the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce in the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc bought a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on CRM. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Cantor Fitzgerald initiated coverage on Salesforce in a research note on Tuesday. They set an “overweight” rating and a $325.00 price objective for the company. The Goldman Sachs Group boosted their target price on Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Royal Bank of Canada lowered Salesforce from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $420.00 to $275.00 in a research report on Thursday, May 29th. Finally, Robert W. Baird dropped their price target on Salesforce from $430.00 to $400.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $346.34.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This trade represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 705 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the sale, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,332 shares of company stock valued at $11,024,802. Insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $266.81 on Friday. 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 firm has a market cap of $255.07 billion, a PE ratio of 43.88, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00. The firm’s 50 day moving average price is $266.48 and its 200 day moving average price is $302.92.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the firm earned $2.44 EPS. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

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.