Salesforce, Inc. (NYSE:CRM) Shares Sold by Signal Advisors Wealth LLC

Signal Advisors Wealth LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 8.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 913 shares of the CRM provider’s stock after selling 89 shares during the period. Signal Advisors Wealth LLC’s holdings in Salesforce were worth $245,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CRM. Geode Capital Management LLC lifted its position in shares of Salesforce by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider’s stock worth $6,656,078,000 after buying an additional 175,035 shares during the last quarter. Fisher Asset Management LLC raised its stake in Salesforce by 1.4% during the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider’s stock worth $4,163,703,000 after acquiring an additional 177,321 shares in the last quarter. Northern Trust Corp lifted its position in Salesforce by 18.3% in the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. Norges Bank acquired a new position in Salesforce in the fourth quarter valued at $3,599,867,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Salesforce by 23.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider’s stock worth $2,988,422,000 after purchasing an additional 1,683,233 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE CRM opened at $274.48 on Friday. 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 company’s 50-day moving average price is $266.57 and its 200 day moving average price is $302.42. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00. The stock has a market cap of $262.40 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last released its quarterly 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 net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Analysts Set New Price Targets

CRM has been the subject of several research reports. Royal Bank of Canada downgraded Salesforce from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $420.00 to $275.00 in a report on Thursday, May 29th. Stephens reduced their price objective on Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a research note on Friday, May 30th. 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 report on Thursday, May 29th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Finally, Canaccord Genuity Group reduced their price target on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $346.34.

Insider Buying and Selling at Salesforce

In other news, insider Miguel Milano sold 705 shares of Salesforce stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the sale, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares of the company’s stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 40,332 shares of company stock worth $11,024,802. Corporate insiders own 3.20% of the company’s stock.

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.