Ashton Thomas Securities LLC Decreases Stock Position in Salesforce Inc. $CRM

Ashton Thomas Securities LLC lowered its stake in Salesforce Inc. (NYSE:CRM) by 22.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,154 shares of the CRM provider’s stock after selling 1,510 shares during the period. Ashton Thomas Securities LLC’s holdings in Salesforce were worth $1,386,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the 4th quarter worth approximately $27,000. Wood Tarver Financial Group LLC purchased a new position in shares of Salesforce during the 4th quarter worth approximately $35,000. Capital A Wealth Management LLC grew its holdings 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 worth $30,000 after acquiring an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider’s stock worth $30,000 after purchasing an additional 85 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of CRM opened at $256.37 on Monday. The firm has a market cap of $245.09 billion, a PE ratio of 40.12, a P/E/G ratio of 2.33 and a beta of 1.22. 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 firm has a fifty day simple moving average of $257.34 and a two-hundred day simple moving average of $268.85. Salesforce Inc. has a 1-year low of $226.48 and a 1-year high of $369.00.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were paid a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.6%. Salesforce’s payout ratio is currently 25.98%.

Analysts Set New Price Targets

CRM has been the topic of a number of analyst reports. JMP Securities reissued a “market outperform” rating and issued a $430.00 price target on shares of Salesforce in a research report on Friday, July 11th. DA Davidson raised Salesforce from an “underperform” rating to a “neutral” rating and set a $225.00 price target on the stock in a research report on Friday, August 15th. Bank of America dropped their price target on Salesforce from $350.00 to $325.00 and set a “buy” rating on the stock in a research report on Tuesday, August 26th. Barclays dropped their price target on Salesforce from $347.00 to $316.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Finally, Northland Securities dropped their price target on Salesforce from $423.00 to $396.00 and set an “outperform” rating on the stock in a research report on Thursday, May 29th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $341.47.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business’s stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $248.56, for a total transaction of $559,260.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares in the company, valued at approximately $2,960,740,087.76. The trade was a 0.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 59,327 shares of company stock worth $15,201,738. 3.00% of the stock is currently owned by 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.