1,680 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Zimmermann Investment Management & Planning LLC

Zimmermann Investment Management & Planning LLC bought a new position in Salesforce, Inc. (NYSE:CRM) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,680 shares of the CRM provider’s stock, valued at approximately $432,000.

A number of other hedge funds have also modified their holdings of CRM. Signature Resources Capital Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $26,000. Ruedi Wealth Management Inc. boosted its position in shares of Salesforce by 186.7% in the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after buying an additional 56 shares during the period. Piscataqua Savings Bank boosted its position in shares of Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after buying an additional 96 shares during the period. Red Tortoise LLC acquired a new stake in shares of Salesforce in the first quarter worth $33,000. Finally, Creekmur Asset Management LLC acquired a new stake in shares of Salesforce in the fourth quarter worth $35,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $216.66, for a total value of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at approximately $2,688,171,467.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $216.66, for a total transaction of $3,249,900.00. Following the transaction, the chief executive officer now directly owns 12,407,327 shares of the company’s stock, valued at $2,688,171,467.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director G Mason Morfit bought 428,000 shares of the stock in a transaction dated Monday, June 3rd. The shares were acquired at an average cost of $233.17 per share, for a total transaction 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. In the last ninety days, insiders sold 127,964 shares of company stock worth $31,206,547. Insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Oppenheimer decreased their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. 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 report on Thursday, May 30th. Raymond James reiterated a “strong-buy” rating and issued a $325.00 price objective (down from $380.00) on shares of Salesforce in a research note on Thursday, May 30th. BMO Capital Markets dropped their price objective on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Wells Fargo & Company dropped their price objective 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.38.

Salesforce Stock Down 2.0 %

Shares of Salesforce stock traded down $5.21 during trading hours on Wednesday, reaching $258.99. 10,915,202 shares of the company’s stock were exchanged, compared to its average volume of 6,564,717. The company has a 50 day moving average of $253.44 and a two-hundred day moving average of $271.63. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week 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 stock has a market cap of $250.96 billion, a P/E ratio of 46.58, a P/E/G ratio of 2.22 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping analysts’ consensus estimates of $2.35 by $0.21. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the prior year, the business posted $1.63 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Investors of record on Tuesday, July 9th were paid a $0.40 dividend. The ex-dividend date was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is currently 28.78%.

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.