BigSur Wealth Management LLC Acquires 1,700 Shares of Salesforce, Inc. (NYSE:CRM)

BigSur Wealth Management LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 17.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,700 shares of the CRM provider's stock after buying an additional 1,700 shares during the quarter. BigSur Wealth Management LLC's holdings in Salesforce were worth $3,140,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Tallon Kerry Patrick acquired a new stake in shares of Salesforce in the fourth quarter worth $236,000. Brighton Jones LLC raised its holdings in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Union Bancaire Privee UBP SA acquired a new position in Salesforce during the 4th quarter worth $104,173,000. Revolve Wealth Partners LLC boosted its holdings in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after acquiring an additional 205 shares during the period. Finally, Leavell Investment Management Inc. grew its position in shares of Salesforce by 35.8% in the fourth quarter. Leavell Investment Management Inc. now owns 2,468 shares of the CRM provider's stock valued at $826,000 after purchasing an additional 650 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. UBS Group cut their price target on Salesforce from $320.00 to $300.00 and set a "neutral" rating for the company in a report on Tuesday, May 27th. Northland Securities reduced their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Morgan Stanley reiterated an "overweight" rating and set a $404.00 target price (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Finally, Barclays reduced their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $346.34.

Salesforce Price Performance

NYSE:CRM traded down $8.66 during mid-day trading on Friday, reaching $258.25. 7,647,008 shares of the company were exchanged, compared to its average volume of 6,545,929. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The stock has a market cap of $246.89 billion, a PE ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The company has a fifty day moving average of $268.09 and a 200 day moving average of $300.13.

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

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's payout ratio is currently 25.98%.

Insider Activity

In related news, CEO Brian Millham sold 3,937 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the completion of the sale, the chief executive officer now owns 5,518 shares in the company, valued at approximately $1,570,312.44. This represents a 41.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 46,750 shares in the company, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock valued at $11,024,802 over the last 90 days. 3.20% of the stock is owned by company insiders.

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.