Intellus Advisors LLC Sells 100 Shares of Salesforce Inc. (NYSE:CRM)

Intellus Advisors LLC cut its position in Salesforce Inc. (NYSE:CRM) by 11.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 750 shares of the CRM provider’s stock after selling 100 shares during the quarter. Intellus Advisors LLC’s holdings in Salesforce were worth $201,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. bought a new position in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce during the fourth quarter worth about $27,000. Wood Tarver Financial Group LLC bought a new position in shares of Salesforce during the fourth quarter worth about $35,000. Capital A Wealth Management LLC raised its position 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 worth $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC raised its position in shares of Salesforce by 314.8% during the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after acquiring an additional 85 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Barclays lowered their price objective on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. Wells Fargo & Company raised their target price on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Sanford C. Bernstein raised their target price on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Finally, Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a research note on Thursday, May 15th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $348.16.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 6,697 shares of the company’s stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider directly owned 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total value of $611,302.50. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares of the company’s stock, valued at $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,479 shares of company stock valued at $9,091,796 over the last quarter. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE:CRM opened at $269.11 on Friday. The firm has a market cap of $257.27 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 2.44 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The business’s fifty day moving average is $268.07 and its 200 day moving average is $283.98. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00.

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

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date was Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

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.