Anomaly Capital Management LP Reduces Stake in Salesforce, Inc. (NYSE:CRM)

Anomaly Capital Management LP lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 44.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 218,894 shares of the CRM provider’s stock after selling 174,730 shares during the period. Salesforce accounts for about 2.1% of Anomaly Capital Management LP’s portfolio, making the stock its 19th biggest position. Anomaly Capital Management LP’s holdings in Salesforce were worth $56,278,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CRM. Fox Hill Wealth Management raised its holdings in shares of Salesforce by 4.0% during the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock worth $297,000 after purchasing an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its holdings in shares of Salesforce by 0.8% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after buying an additional 38 shares during the period. Glassman Wealth Services boosted its stake in shares of Salesforce by 2.9% in the fourth quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock worth $360,000 after buying an additional 39 shares during the last quarter. Blue Barn Wealth LLC grew its holdings in Salesforce by 1.8% during the first quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after acquiring an additional 39 shares during the period. Finally, Catalyst Financial Partners LLC raised its position in Salesforce by 0.8% during the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after acquiring an additional 39 shares in the last quarter. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Jefferies Financial Group dropped their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Canaccord Genuity Group lifted their price objective on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Loop Capital reissued a “hold” rating and set a $270.00 target price on shares of Salesforce in a research note on Thursday. FBN Securities upgraded Salesforce to a “strong-buy” rating in a research note on Thursday, August 29th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Salesforce in a report on Monday, August 26th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $306.00.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total value of $1,400,952.00. Following the sale, the insider now owns 116,693 shares of the company’s stock, valued at $29,193,087.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Salesforce news, COO Brian Millham sold 4,056 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $261.50, for a total transaction of $1,060,644.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 5,600 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at approximately $29,193,087.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 63,891 shares of company stock valued at $16,306,944. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.3 %

Shares of Salesforce stock opened at $266.80 on Monday. The stock has a 50 day moving average of $254.14 and a 200 day moving average of $266.18. 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 capitalization of $258.53 billion, a price-to-earnings ratio of 47.99, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.20. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.63 EPS. As a group, research analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current year.

Salesforce Announces Dividend

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

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.