Salesforce, Inc. (NYSE:CRM) is AXS Investments LLC’s 5th Largest Position

AXS Investments LLC cut its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,007 shares of the CRM provider’s stock after selling 3,030 shares during the period. Salesforce comprises about 1.6% of AXS Investments LLC’s portfolio, making the stock its 5th biggest position. AXS Investments LLC’s holdings in Salesforce were worth $6,580,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Bear Mountain Capital Inc. acquired a new stake in Salesforce in the fourth quarter valued at approximately $26,000. Signature Resources Capital Management LLC purchased a new position in Salesforce in the fourth quarter valued at $26,000. Kathleen S. Wright Associates Inc. acquired a new stake in Salesforce in the fourth quarter valued at $31,000. Pacifica Partners Inc. lifted its holdings in Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

NYSE:CRM traded down $5.25 during trading hours on Thursday, reaching $278.57. 5,016,580 shares of the company traded hands, compared to its average volume of 5,297,468. The firm’s 50-day moving average is $287.88 and its 200-day moving average is $273.68. The stock has a market cap of $269.66 billion, a P/E ratio of 66.93, a P/E/G ratio of 2.51 and a beta of 1.30. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, February 28th. The CRM provider reported $1.78 EPS for the quarter, topping the consensus estimate of $1.72 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 10.42% and a net margin of 11.87%. The company’s revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Equities research analysts expect that Salesforce, Inc. will post 7.45 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 11th. Stockholders of record on Thursday, March 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend was Wednesday, March 13th. Salesforce’s dividend payout ratio (DPR) is presently 9.52%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Monday, April 15th. Jefferies Financial Group increased their target price on shares of Salesforce from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Monday, April 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $350.00 price target on shares of Salesforce in a research note on Wednesday, April 3rd. Wolfe Research reaffirmed an “outperform” rating and set a $365.00 price objective on shares of Salesforce in a report on Tuesday, April 16th. Finally, Wells Fargo & Company cut their target price on Salesforce from $310.00 to $300.00 and set an “equal weight” rating on the stock in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $310.94.

Insider Activity

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $293.39, for a total transaction of $4,400,850.00. Following the sale, the chief executive officer now owns 13,386,166 shares in the company, valued at approximately $3,927,367,242.74. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Salesforce news, insider Srinivas Tallapragada sold 2,474 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $295.59, for a total transaction of $731,289.66. Following the completion of the transaction, the insider now owns 60,416 shares of the company’s stock, valued at approximately $17,858,365.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $293.39, for a total transaction of $4,400,850.00. Following the sale, the chief executive officer now owns 13,386,166 shares of the company’s stock, valued at $3,927,367,242.74. The disclosure for this sale can be found here. Insiders sold a total of 630,182 shares of company stock valued at $183,257,351 over the last three months. Insiders own 3.20% of the company’s stock.

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.