Spartan Planning & Wealth Management Has $250,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Spartan Planning & Wealth Management trimmed its position in Salesforce, Inc. (NYSE:CRM) by 48.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 932 shares of the CRM provider’s stock after selling 871 shares during the quarter. Spartan Planning & Wealth Management’s holdings in Salesforce were worth $250,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Norges Bank bought a new stake in shares of Salesforce in the 4th quarter valued at about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after purchasing an additional 3,841,521 shares during the period. GAMMA Investing LLC raised its holdings in shares of Salesforce by 30,456.9% in the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock valued at $1,020,194,000 after purchasing an additional 3,789,147 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Salesforce in the 4th quarter valued at about $1,173,564,000. Finally, Invesco Ltd. raised its holdings in shares of Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares during the period. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

CRM stock opened at $265.03 on Friday. The firm has a market cap of $254.80 billion, a price-to-earnings ratio of 43.59, a PEG ratio of 2.58 and a beta of 1.42. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 12-month low of $216.06 and a 12-month high of $369.00. The company’s fifty day simple moving average is $267.31 and its 200 day simple moving average is $304.75.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a $0.42 dividend. This is an increase from Salesforce’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, April 10th. Salesforce’s payout ratio is 25.98%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Stephens lowered their price target on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday. Redburn Atlantic assumed coverage on shares of Salesforce in a report on Wednesday, February 19th. They issued a “buy” rating on the stock. Barclays lowered their price target on shares of Salesforce from $425.00 to $347.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group increased their price target on shares of Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $343.32.

Insider Buying and Selling at Salesforce

In other Salesforce news, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $543,263.22. Following the completion of the sale, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at approximately $3,218,599.80. The trade was a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $1,120,391.46. Following the completion of the sale, the chief executive officer now directly owns 5,518 shares of the company’s stock, valued at approximately $1,570,312.44. This trade represents a 41.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 46,553 shares of company stock valued at $12,897,323. Corporate insiders own 3.20% of the company’s stock.

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.