Blackhawk Capital Partners LLC. Has $2.65 Million Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Blackhawk Capital Partners LLC. trimmed its position in Salesforce, Inc. (NYSE:CRM) by 17.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,799 shares of the CRM provider’s stock after selling 1,905 shares during the period. Salesforce makes up approximately 1.7% of Blackhawk Capital Partners LLC.’s holdings, making the stock its 16th biggest holding. Blackhawk Capital Partners LLC.’s holdings in Salesforce were worth $2,650,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of CRM. Norges Bank bought a new stake in Salesforce during the 4th quarter worth approximately $2,762,331,000. Capital International Investors increased its stake in Salesforce by 76.4% during the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Cerity Partners LLC increased its stake in Salesforce by 1,254.7% during the 4th quarter. Cerity Partners LLC now owns 3,483,670 shares of the CRM provider’s stock worth $916,693,000 after purchasing an additional 3,226,512 shares in the last quarter. Coatue Management LLC bought a new stake in Salesforce during the 4th quarter worth approximately $564,188,000. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Salesforce by 110.3% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 3,394,912 shares of the CRM provider’s stock worth $893,336,000 after purchasing an additional 1,780,421 shares in the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Marc Benioff sold 15,000 shares of the firm’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $302.03, for a total value of $4,530,450.00. Following the transaction, the chief executive officer now owns 12,936,166 shares in the company, valued at $3,907,110,216.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $256.24, for a total value of $1,076,208.00. Following the transaction, the insider now owns 116,693 shares in the company, valued at $29,901,414.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $302.03, for a total value of $4,530,450.00. Following the completion of the transaction, the chief executive officer now owns 12,936,166 shares in the company, valued at approximately $3,907,110,216.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 484,152 shares of company stock worth $131,779,561. Company insiders own 3.20% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM traded up $2.24 during mid-day trading on Friday, reaching $263.19. The company had a trading volume of 6,562,111 shares, compared to its average volume of 8,121,139. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71. The firm has a market cap of $255.03 billion, a price-to-earnings ratio of 47.34, a PEG ratio of 2.29 and a beta of 1.29. The business’s 50-day simple moving average is $258.26 and its 200 day simple moving average is $276.21.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the business earned $1.15 earnings per share. Salesforce’s revenue was up 10.7% on a year-over-year basis. On average, research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Tuesday, July 9th. Salesforce’s payout ratio is currently 28.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CRM shares. Evercore ISI decreased their price target on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, May 30th. Mizuho decreased their price target on shares of Salesforce from $345.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, May 30th. Barclays decreased their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price target on shares of Salesforce in a research note on Friday, May 24th. Finally, Wells Fargo & Company decreased their target price on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company 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 given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

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.