Financial Engines Advisors L.L.C. Lowers Position in Salesforce Inc. (NYSE:CRM)

Financial Engines Advisors L.L.C. decreased its stake in shares of Salesforce Inc. (NYSE:CRM) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,848 shares of the CRM provider’s stock after selling 408 shares during the quarter. Financial Engines Advisors L.L.C.’s holdings in Salesforce were worth $1,301,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC bought a new stake in Salesforce in the 4th quarter worth approximately $27,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $35,000. Capital A Wealth Management LLC boosted its position in shares of Salesforce by 450.0% during the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider’s stock valued at $30,000 after acquiring an additional 90 shares during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew 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. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the firm’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 sale, the insider owned 41,422 shares of the company’s stock, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction dated Friday, July 11th. The stock was sold at an average price of $259.67, for a total value of $584,257.50. Following the sale, the chief executive officer owned 11,955,566 shares in the company, valued at $3,104,501,823.22. The trade was a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 48,729 shares of company stock worth $12,998,356 over the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

Salesforce Stock Down 3.3%

NYSE:CRM opened at $232.46 on Tuesday. The company’s 50-day simple moving average is $262.89 and its 200-day simple moving average is $278.04. 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 fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock has a market capitalization of $222.23 billion, a P/E ratio of 36.38, a P/E/G ratio of 2.18 and a beta of 1.37.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 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 prior year, the company posted $2.44 earnings per share. Salesforce’s revenue for the quarter 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 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 given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce’s dividend payout ratio is currently 25.98%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CRM shares. Westpark Capital reaffirmed a “buy” rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. JMP Securities restated a “market outperform” rating and set a $430.00 target price on shares of Salesforce in a research report on Friday, July 11th. Citigroup dropped their price target on Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research report on Friday, May 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $275.00 price objective on shares of Salesforce in a research report on Monday, July 14th. Finally, Piper Sandler raised their price objective on Salesforce from $315.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $348.16.

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.