Xponance Inc. Increases Holdings in Salesforce Inc. (NYSE:CRM)

by · The Markets Daily

Xponance Inc. increased its stake in Salesforce Inc. (NYSE:CRM – Free Report) by 5.6% during the first quarter, according to its most recent filing with the SEC. The fund owned 215,150 shares of the CRM provider’s stock after buying an additional 11,411 shares during the quarter. Salesforce accounts for approximately 0.6% of Xponance Inc.’s portfolio, making the stock its 24th largest holding. Xponance Inc.’s holdings in Salesforce were worth $57,738,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new stake in Salesforce in the fourth quarter worth $27,000. Wood Tarver Financial Group LLC purchased a new stake in Salesforce in the fourth quarter worth $35,000. Abound Financial LLC purchased a new position in shares of Salesforce during the 1st quarter valued at $31,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Salesforce during the 4th quarter worth $45,000. Institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of the firm’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider owned 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $272.48, for a total value of $613,080.00. Following the sale, the chief executive officer owned 11,862,457 shares in the company, valued at $3,232,282,283.36. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,284 shares of company stock worth $9,444,537 over the last quarter. Insiders own 3.20% of the company’s stock.

Salesforce Trading Down 2.6%

CRM opened at $263.95 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The firm has a market capitalization of $252.34 billion, a price-to-earnings ratio of 41.31, a PEG ratio of 2.46 and a beta of 1.36. The business has a 50 day simple moving average of $272.43 and a two-hundred day simple moving average of $289.84. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00.

Salesforce (NYSE:CRM – Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the firm earned $2.44 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.63%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Royal Bank Of Canada cut Salesforce from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $420.00 to $275.00 in a research note on Thursday, May 29th. Barclays lowered their price target on shares of Salesforce from $425.00 to $347.00 and set an “overweight” rating on the stock in a research report on Thursday, May 29th. BMO Capital Markets reduced their price objective on shares of Salesforce from $350.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday. DA Davidson reissued an “underperform” rating and set a $200.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Finally, Citigroup cut their price target on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $348.68.

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About Salesforce

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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.

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