Salesforce Inc. (NYSE:CRM) Shares Sold by Wolf Group Capital Advisors

Wolf Group Capital Advisors cut its holdings in Salesforce Inc. (NYSE:CRM) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,977 shares of the CRM provider’s stock after selling 546 shares during the period. Wolf Group Capital Advisors’ holdings in Salesforce were worth $1,872,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $27,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $35,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $35,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Salesforce during the fourth quarter worth about $45,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $262.51 on Wednesday. The firm has a 50 day moving average of $268.43 and a 200-day moving average of $299.00. Salesforce Inc. has a 12-month low of $229.23 and a 12-month high of $369.00. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market cap of $250.96 billion, a price-to-earnings ratio of 41.08, a PEG ratio of 2.39 and a beta of 1.38.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the firm earned $2.44 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s payout ratio is 25.98%.

Insider Activity

In related news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred 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 in the company, valued at $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of Salesforce 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 $543,263.22. Following the transaction, the chief accounting officer now owns 11,310 shares of the company’s stock, valued at $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,111 shares of company stock worth $9,299,283. Company insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on CRM. Wells Fargo & Company lifted their target price on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 29th. Guggenheim upgraded Salesforce from a “sell” rating to a “neutral” rating in a research report on Monday, April 21st. Scotiabank cut their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Redburn Atlantic began coverage on Salesforce in a research report on Wednesday, February 19th. They set a “buy” rating on the stock. Finally, The Goldman Sachs Group lifted their target price on Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $346.34.

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.