Salesforce, Inc. (NYSE:CRM) Shares Purchased by USA Financial Formulas

USA Financial Formulas increased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 5.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 799 shares of the CRM provider’s stock after purchasing an additional 43 shares during the quarter. USA Financial Formulas’ holdings in Salesforce were worth $214,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CRM. Tallon Kerry Patrick acquired a new stake in Salesforce during the 4th quarter worth approximately $236,000. Brighton Jones LLC increased its position in Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Salesforce during the 4th quarter worth approximately $104,173,000. Revolve Wealth Partners LLC boosted its holdings in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the period. Finally, Essex Financial Services Inc. boosted its holdings in Salesforce by 2.8% in the 4th quarter. Essex Financial Services Inc. now owns 3,358 shares of the CRM provider’s stock worth $1,123,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CRM. Citigroup decreased their price target on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Westpark Capital restated a “buy” rating and issued a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Needham & Company LLC restated a “buy” rating and issued a $400.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Scotiabank decreased their price target on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Finally, Canaccord Genuity Group decreased their price target on Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $346.34.

Salesforce Trading Down 0.9%

Shares of CRM stock opened at $265.93 on Thursday. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00. The firm has a market capitalization of $254.23 billion, a PE ratio of 43.74, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The stock has a fifty day moving average of $267.35 and a two-hundred day moving average of $301.22. 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 (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. The business had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business earned $2.44 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Insider Activity at Salesforce

In related news, insider Miguel Milano sold 705 shares of the firm’s stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now owns 9,323 shares of the company’s stock, valued at $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction dated 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 directly owns 125,146 shares in the company, valued at approximately $35,614,048.68. The trade was a 2.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock worth $11,024,802 over the last quarter. 3.20% of the stock is currently owned by company insiders.

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.