Bensler LLC Invests $3.17 Million in Salesforce, Inc. (NYSE:CRM)

Bensler LLC bought a new stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,807 shares of the CRM provider's stock, valued at approximately $3,169,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the fourth quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce in the fourth quarter worth about $27,000. Asset Planning Inc acquired a new position in shares of Salesforce in the fourth quarter worth about $31,000. Halbert Hargrove Global Advisors LLC acquired a new position in shares of Salesforce in the fourth quarter worth about $35,000. Finally, Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce in the fourth quarter worth about $35,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently weighed in on CRM. Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Robert W. Baird reduced their price target on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Canaccord Genuity Group reduced their price target on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Morgan Stanley restated an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Piper Sandler upped their price target on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the completion of the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The stock was sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock valued at $11,024,802 in the last 90 days. Company insiders own 3.20% of the company's stock.

Salesforce Trading Down 3.2%

Shares of NYSE CRM traded down $8.66 during midday trading on Friday, reaching $258.25. 7,647,008 shares of the stock were exchanged, compared to its average volume of 6,545,951. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The company has a 50 day simple moving average of $267.80 and a 200 day simple moving average of $300.72. The stock has a market capitalization of $246.89 billion, a P/E ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the firm earned $2.44 EPS. The firm's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm also recently declared 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 of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio is presently 25.98%.

About Salesforce

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.