Lombard Odier Asset Management Europe Ltd Sells 663 Shares of Salesforce, Inc. (NYSE:CRM)

Lombard Odier Asset Management Europe Ltd lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 2.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,825 shares of the CRM provider’s stock after selling 663 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Salesforce were worth $5,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during 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 last quarter. Piscataqua Savings Bank increased its stake in shares of Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 96 shares during the last quarter. Clear Investment Research LLC raised its holdings in shares of Salesforce by 816.7% in the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the period. Red Tortoise LLC purchased a new position in Salesforce in the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its holdings in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Salesforce Price Performance

Shares of CRM stock opened at $266.80 on Monday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market cap of $258.53 billion, a P/E ratio of 47.99, a P/E/G ratio of 2.26 and a beta of 1.29. The business’s 50 day moving average price is $254.14 and its 200-day moving average price is $266.18. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. During the same period in the previous year, the firm earned $1.63 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities research analysts anticipate that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is 28.78%.

Insiders Place Their Bets

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Brian Millham sold 4,056 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $261.50, for a total transaction of $1,060,644.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,891 shares of company stock worth $16,306,944. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Citigroup boosted their target price on Salesforce from $260.00 to $290.00 and gave the company a “neutral” rating in a research note on Monday, August 26th. DA Davidson upped their price objective on shares of Salesforce from $230.00 to $250.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Evercore ISI reissued an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a research report on Monday, August 26th. BMO Capital Markets increased their price objective on Salesforce from $265.00 to $305.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $306.00.

Salesforce Company 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.