Salesforce, Inc. (NYSE:CRM) Shares Acquired by Arvest Investments Inc.

Arvest Investments Inc. lifted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 673.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,630 shares of the CRM provider's stock after purchasing an additional 6,643 shares during the quarter. Arvest Investments Inc.'s holdings in Salesforce were worth $2,048,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. bought a new position in shares of Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter valued at $27,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter valued at $31,000. Halbert Hargrove Global Advisors LLC bought a new position in Salesforce in the fourth quarter valued at $35,000. Finally, Wood Tarver Financial Group LLC bought a new position in Salesforce in the fourth quarter valued at $35,000. Institutional investors own 80.43% of the company's stock.

Salesforce Price Performance

Shares of Salesforce stock traded down $8.66 during trading hours on Friday, reaching $258.25. The company's stock had a trading volume of 7,647,008 shares, compared to its average volume of 6,536,741. The firm has a 50 day moving average price of $268.09 and a 200-day moving average price of $299.93. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $246.89 billion, a P/E ratio of 42.48, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data 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 company had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. On average, analysts predict that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio (DPR) is 25.98%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. BMO Capital Markets reduced their target price on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research note on Tuesday, May 27th. Wells Fargo & Company increased their target price on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $346.34.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total value of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This represents a 11.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now directly owns 11,711 shares of the company's stock, valued at $3,220,525. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,332 shares of company stock valued at $11,024,802. Company insiders own 3.20% of the company's stock.

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.