260 Shares in Salesforce Inc. (NYSE:CRM) Acquired by Proathlete Wealth Management LLC

Proathlete Wealth Management LLC bought a new position in shares of Salesforce Inc. (NYSE:CRM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 260 shares of the CRM provider’s stock, valued at approximately $70,000.

A number of other large investors have also bought and sold shares of CRM. Tallon Kerry Patrick acquired a new position in Salesforce during the 4th quarter worth approximately $236,000. Brighton Jones LLC boosted 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 acquiring an additional 3,102 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Salesforce during the 4th quarter worth approximately $104,173,000. Revolve Wealth Partners LLC boosted its position in Salesforce by 12.6% during 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 last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in Salesforce during the 4th quarter worth approximately $204,000. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Miguel Milano sold 705 shares of the firm’s 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 transaction, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. This trade represents 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 accessible through this link. Also, CAO Sundeep G. Reddy sold 1,909 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 34,111 shares of company stock worth $9,299,283. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Down 1.4%

CRM stock opened at $258.98 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $247.59 billion, a price-to-earnings ratio of 40.53, a PEG ratio of 2.35 and a beta of 1.38. The business’s fifty day moving average price is $268.39 and its two-hundred day moving average price is $298.23. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. During the same quarter last year, the business earned $2.44 EPS. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Wells Fargo & Company upped their price target 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 raised Salesforce from a “sell” rating to a “neutral” rating in a report on Monday, April 21st. BMO Capital Markets cut their price objective on Salesforce from $367.00 to $350.00 and set an “outperform” rating for the company in a report on Tuesday, May 27th. The Goldman Sachs Group increased their price objective on Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Finally, Erste Group Bank downgraded 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, eight have assigned a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.08.

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.