Aigen Investment Management LP Boosts Stake in Salesforce Inc. (NYSE:CRM)

Aigen Investment Management LP raised its position in Salesforce Inc. (NYSE:CRM - Free Report) by 169.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,610 shares of the CRM provider's stock after purchasing an additional 9,185 shares during the quarter. Salesforce accounts for approximately 0.6% of Aigen Investment Management LP's portfolio, making the stock its 15th largest position. Aigen Investment Management LP's holdings in Salesforce were worth $3,921,000 at the end of the most recent reporting period.

• Salesforce Stock Set for 30% Upside to Reach New Highs

Other large investors also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $27,000. Wood Tarver Financial Group LLC purchased a new position in shares of Salesforce in the fourth quarter valued at approximately $35,000. Capital A Wealth Management LLC grew its holdings in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. Finally, CBIZ Investment Advisory Services LLC increased its stake in Salesforce by 314.8% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock worth $30,000 after buying an additional 85 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $248.40, for a total value of $558,900.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares in the company, valued at $2,958,834,236.40. This trade represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 46,479 shares of company stock worth $12,457,591. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Down 0.3%

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NYSE CRM opened at $240.09 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $229.53 billion, a P/E ratio of 37.57, a P/E/G ratio of 2.18 and a beta of 1.37. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The firm has a 50-day moving average price of $263.47 and a 200 day moving average price of $279.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.44 EPS. Equities research analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's payout ratio is presently 25.98%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Wells Fargo & Company increased their price objective on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. The Goldman Sachs Group lifted their target price on Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Westpark Capital reissued a "buy" rating and set a $320.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 price target on shares of Salesforce in a research report on Tuesday, June 10th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, Salesforce presently has an average rating of "Moderate Buy" and an average price target of $348.16.

Get Our Latest Analysis on Salesforce

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.

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