Salesforce Inc. (NYSE:CRM) Shares Bought by Jaffetilchin Investment Partners LLC

Jaffetilchin Investment Partners LLC lifted its stake in shares of Salesforce Inc. (NYSE:CRM) by 1.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,434 shares of the CRM provider’s stock after acquiring an additional 45 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in Salesforce were worth $1,190,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at $27,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at $35,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at $35,000. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Salesforce during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of a number of analyst reports. Barclays decreased their price objective on Salesforce from $425.00 to $347.00 and set an “overweight” rating on the stock in a research note on Thursday, May 29th. Wells Fargo & Company raised their price target on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Sanford C. Bernstein raised their price target on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Oppenheimer reissued an “outperform” rating and issued a $370.00 price target on shares of Salesforce in a research note on Tuesday, June 10th. Finally, DA Davidson reissued an “underperform” rating and issued a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $349.08.

Salesforce Stock Performance

Shares of NYSE:CRM opened at $272.72 on Friday. The company has a market cap of $260.72 billion, a P/E ratio of 42.68, a PEG ratio of 2.45 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The business’s 50-day simple moving average is $270.38 and its 200 day simple moving average is $294.66.

Salesforce (NYSE:CRM) last announced its 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. The business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares in the company, valued at approximately $9,141,957.90. This trade represents a 16.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 261 shares of Salesforce stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $68,473.35. Following the completion of the transaction, the chief accounting officer now owns 12,024 shares of the company’s stock, valued at approximately $3,154,496.40. The trade was a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,284 shares of company stock worth $6,996,762 in the last 90 days. 3.20% of the stock is owned by corporate insiders.

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.