Salesforce Inc. (NYSE:CRM) Stock Holdings Boosted by Cornerstone Advisory LLC

Cornerstone Advisory LLC raised its position in shares of Salesforce Inc. (NYSE:CRM) by 11.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,143 shares of the CRM provider’s stock after purchasing an additional 115 shares during the quarter. Cornerstone Advisory LLC’s holdings in Salesforce were worth $312,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CRM. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the fourth quarter valued at $27,000. Capital A Wealth Management LLC lifted its holdings in shares of Salesforce by 450.0% in the first quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 90 shares in the last quarter. CBIZ Investment Advisory Services LLC lifted its holdings in shares of Salesforce by 314.8% in the first quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock valued at $30,000 after purchasing an additional 85 shares in the last quarter. Finally, Abound Financial LLC purchased a new stake in shares of Salesforce in the first quarter valued at $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CRM shares. The Goldman Sachs Group increased their target price on Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Mizuho cut their price objective on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Northland Securities cut their price objective on Salesforce from $423.00 to $396.00 and set an “outperform” rating for the company in a report on Thursday, May 29th. Wells Fargo & Company increased their price objective on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, May 29th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $275.00 target price on shares of Salesforce in a report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $348.16.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider owned 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the company’s stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total transaction of $611,302.50. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 33,479 shares of company stock worth $9,091,796 in the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.5%

NYSE CRM opened at $269.11 on Monday. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The stock’s 50 day moving average is $268.07 and its two-hundred day moving average is $283.68. 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 capitalization of $257.27 billion, a price-to-earnings ratio of 42.11, a PEG ratio of 2.44 and a beta of 1.36.

Salesforce (NYSE:CRM) last posted its 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 analysts’ expectations of $9.74 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. Salesforce’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast 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. Stockholders of record on Wednesday, June 18th were paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is presently 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.