Transce3nd LLC Sells 161 Shares of Salesforce Inc. (NYSE:CRM)

Transce3nd LLC reduced its stake in Salesforce Inc. (NYSE:CRM) by 14.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 987 shares of the CRM provider’s stock after selling 161 shares during the period. Transce3nd LLC’s holdings in Salesforce were worth $265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $27,000. Capital A Wealth Management LLC grew its holdings in shares of Salesforce by 450.0% during the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after buying an additional 90 shares during the last quarter. Abound Financial LLC acquired a new position in shares of Salesforce during the first quarter valued at about $31,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the fourth quarter valued at about $35,000. 80.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Oppenheimer reiterated an “outperform” rating and set a $370.00 price objective on shares of Salesforce in a report on Tuesday, June 10th. JMP Securities reiterated a “market outperform” rating and set a $430.00 price objective on shares of Salesforce in a report on Friday, July 11th. Cantor Fitzgerald cut shares of Salesforce from an “overweight” rating to a “cautious” rating in a report on Thursday, July 10th. Citigroup reduced their price objective on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a report on Friday, May 30th. Finally, Northland Securities cut their price target on shares of Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight 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, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.16.

Salesforce Price Performance

Shares of NYSE:CRM opened at $259.66 on Friday. The company’s fifty day moving average price is $270.71 and its 200-day moving average price is $286.99. The firm has a market capitalization of $248.23 billion, a price-to-earnings ratio of 40.63, a PEG ratio of 2.34 and a beta of 1.36. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

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

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce’s dividend payout ratio is currently 25.98%.

Insider Buying and Selling at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,525 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $386,831.50. Following the transaction, the chief accounting officer owned 12,211 shares of the company’s stock, valued at approximately $3,097,442.26. This trade represents a 11.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 4,586 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total transaction of $1,163,284.76. Following the sale, the insider directly owned 33,273 shares of the company’s stock, valued at $8,440,029.18. The trade was a 12.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,819 shares of company stock worth $9,111,823 in 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.