Revolve Wealth Partners LLC Buys 119 Shares of Salesforce, Inc. (NYSE:CRM)

Revolve Wealth Partners LLC raised its stake in Salesforce, Inc. (NYSE:CRM) by 6.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,946 shares of the CRM provider’s stock after purchasing an additional 119 shares during the quarter. Revolve Wealth Partners LLC’s holdings in Salesforce were worth $522,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter valued at approximately $27,000. Arlington Trust Co LLC grew its stake in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock valued at $29,000 after purchasing an additional 40 shares in the last quarter. Compass Financial Services Inc bought a new position in Salesforce in the fourth quarter valued at approximately $30,000. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the 4th quarter worth approximately $31,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research analyst reports. Barclays reduced their target price on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a research note on Thursday, May 29th. Mizuho reduced their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Sanford C. Bernstein lifted their target price on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, BMO Capital Markets reduced their target price on Salesforce from $367.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $346.34.

Insiders Place Their Bets

In other Salesforce news, insider Parker Harris sold 3,273 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $931,430.34. Following the transaction, the insider now owns 125,146 shares in the company, valued at approximately $35,614,048.68. This represents a 2.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the transaction, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,332 shares of company stock worth $11,024,802. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Up 2.7%

NYSE CRM opened at $274.48 on Friday. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $266.57 and its two-hundred day moving average price is $302.42. The firm has a market capitalization of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38.

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

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.61%. Salesforce’s payout ratio is currently 25.98%.

Salesforce 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.