4,461 Shares in Salesforce Inc. (NYSE:CRM) Purchased by VCI Wealth Management LLC

VCI Wealth Management LLC acquired a new stake in Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,461 shares of the CRM provider's stock, valued at approximately $1,197,000.

Several other hedge funds also recently modified their holdings of the business. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the 4th quarter valued at about $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $35,000. Capital A Wealth Management LLC lifted its stake in Salesforce by 450.0% in the 1st 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 during the last quarter. Finally, CBIZ Investment Advisory Services LLC grew its holdings in 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 purchasing an additional 85 shares during the period. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 405 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the sale, the insider directly owned 9,933 shares of the company's stock, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $260.92, for a total transaction of $587,070.00. Following the completion of the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at $3,107,967,105.32. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 36,069 shares of company stock valued at $9,698,893. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several research firms recently weighed in on CRM. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Oppenheimer reiterated an "outperform" rating and set a $370.00 price target on shares of Salesforce in a report on Tuesday, June 10th. Morgan Stanley restated an "overweight" rating and set a $404.00 price target (up from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Piper Sandler upped their price target on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Finally, Erste Group Bank downgraded Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Three investment 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 given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

Salesforce Price Performance

Shares of NYSE CRM traded up $0.66 during mid-day trading on Tuesday, reaching $262.94. The company's stock had a trading volume of 1,771,693 shares, compared to its average volume of 6,545,781. The firm has a market capitalization of $251.37 billion, a PE ratio of 41.20, a P/E/G ratio of 2.38 and a beta of 1.36. The stock has a fifty day moving average of $270.45 and a two-hundred day moving average of $285.85. Salesforce Inc. has a 52 week low of $230.00 and a 52 week 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 - Get Free Report) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.44 EPS. As a group, sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a $0.416 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. Salesforce's dividend payout ratio is currently 25.98%.

Salesforce 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.