Avior Wealth Management LLC cut its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 14.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,141 shares of the CRM provider's stock after selling 2,556 shares during the quarter. Avior Wealth Management LLC's holdings in Salesforce were worth $4,063,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Athena Investment Management acquired a new stake in Salesforce in the 4th quarter valued at about $236,000. Jag Capital Management LLC grew its stake in Salesforce by 2,507.9% in the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock valued at $7,926,000 after acquiring an additional 22,797 shares during the last quarter. Atlantic Union Bankshares Corp grew its stake in Salesforce by 2.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after acquiring an additional 723 shares during the last quarter. Dash Acquisitions Inc. grew its stake in Salesforce by 2.6% in the 4th quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock valued at $21,785,000 after acquiring an additional 1,525 shares during the last quarter. Finally, Millstone Evans Group LLC acquired a new stake in Salesforce in the 4th quarter valued at about $823,000. 80.43% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Salesforce
In other news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were 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 owns 11,711 shares of the company's stock, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Parker Harris sold 3,273 shares of the firm's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the sale, the insider now directly owns 125,146 shares of the company's stock, valued at $35,614,048.68. The trade was a 2.55% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,111 shares of company stock worth $9,299,283 in the last 90 days. 3.20% of the stock is owned by corporate insiders.
Salesforce Trading Up 0.5%
Shares of Salesforce stock traded up $1.29 during trading hours on Friday, hitting $260.79. The company's stock had a trading volume of 12,802,546 shares, compared to its average volume of 6,527,719. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The business has a fifty day moving average of $268.51 and a 200 day moving average of $297.74. The company has a market capitalization of $249.31 billion, a PE ratio of 40.81, a P/E/G ratio of 2.35 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.
Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 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 the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company's revenue was up 7.6% on a year-over-year basis. During the same period last year, the business posted $2.44 EPS. As a group, equities analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.
Salesforce Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on CRM shares. The Goldman Sachs Group increased their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Mizuho lowered their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Scotiabank reduced their target price on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Stephens reduced their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Finally, Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $349.08.
View Our Latest Analysis on CRM
Salesforce Company Profile
(
Free Report)
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.
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