Hexagon Capital Partners LLC Sells 155 Shares of Salesforce, Inc. (NYSE:CRM)

Hexagon Capital Partners LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 16.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 802 shares of the CRM provider’s stock after selling 155 shares during the period. Hexagon Capital Partners LLC’s holdings in Salesforce were worth $242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CRM. Capital World Investors grew its holdings in Salesforce by 2.4% during the 4th quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after acquiring an additional 457,463 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Salesforce by 5.3% in the 4th quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after buying an additional 752,566 shares during the last quarter. Capital International Investors increased its stake in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after buying an additional 5,935,973 shares during the period. Norges Bank bought a new position in shares of Salesforce during the fourth quarter worth about $2,762,331,000. Finally, Parnassus Investments LLC lifted its stake in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock worth $1,566,055,000 after acquiring an additional 18,397 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CRM. Truist Financial restated a “buy” rating and issued a $300.00 price target (down previously from $360.00) on shares of Salesforce in a research report on Thursday, May 30th. Argus upped their price target on shares of Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. JPMorgan Chase & Co. lowered their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. DA Davidson cut their target price on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $345.00 target price on shares of Salesforce in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Insiders Place Their Bets

In related news, COO Brian Millham sold 2,018 shares of Salesforce stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $260.00, for a total value of $524,680.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Parker Harris sold 5,600 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $250.17, for a total transaction of $1,400,952.00. Following the sale, the insider now directly owns 116,693 shares in the company, valued at approximately $29,193,087.81. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Brian Millham sold 2,018 shares of Salesforce stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The disclosure for this sale can be found here. Insiders sold 509,952 shares of company stock valued at $139,786,753 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Down 0.4 %

Shares of NYSE:CRM opened at $256.14 on Tuesday. The company has a market capitalization of $248.20 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day moving average price of $259.79 and a two-hundred day moving average price of $276.47.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.15 earnings per share. Analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is 7.19%.

About Salesforce

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.