Integrated Advisors Network LLC Acquires 2,800 Shares of Salesforce, Inc. (NYSE:CRM)

Integrated Advisors Network LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 24.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,311 shares of the CRM provider’s stock after purchasing an additional 2,800 shares during the period. Integrated Advisors Network LLC’s holdings in Salesforce were worth $3,841,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its stake in Salesforce by 4.1% during the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Prossimo Advisors LLC lifted its stake in Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Mainstream Capital Management LLC lifted its stake in Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock worth $2,143,000 after purchasing an additional 33 shares during the last quarter. Warren Street Wealth Advisors LLC lifted its stake in Salesforce by 3.9% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock worth $300,000 after purchasing an additional 34 shares during the last quarter. Finally, Weatherly Asset Management L. P. lifted its stake in Salesforce by 4.5% during the fourth quarter. Weatherly Asset Management L. P. now owns 813 shares of the CRM provider’s stock worth $272,000 after purchasing an additional 35 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Insider Activity 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 transaction, the chief accounting officer now directly owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This trade represents a 14.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the transaction, the insider now directly 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. Over the last ninety days, insiders sold 40,332 shares of company stock valued at $11,024,802. Corporate insiders own 3.20% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on CRM. Morgan Stanley restated an “overweight” rating and set a $404.00 target price (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Guggenheim upgraded shares of Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. Scotiabank lowered their price target on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Loop Capital lowered their price target on shares of Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a report on Thursday, February 27th. Finally, Erste Group Bank downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $346.34.

Salesforce Stock Down 1.5%

Shares of Salesforce stock opened at $268.19 on Wednesday. The company has a market cap of $256.39 billion, a price-to-earnings ratio of 44.11, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company’s 50 day moving average is $266.84 and its 200 day moving average is $301.47. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00. 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 (NYSE:CRM) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. Research analysts anticipate that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business 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 dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.62%. Salesforce’s payout ratio is 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.