Blue Zone Wealth Advisors LLC Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Blue Zone Wealth Advisors LLC boosted its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 5.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,748 shares of the CRM provider's stock after buying an additional 1,354 shares during the period. Salesforce accounts for approximately 1.8% of Blue Zone Wealth Advisors LLC's portfolio, making the stock its 17th largest position. Blue Zone Wealth Advisors LLC's holdings in Salesforce were worth $6,641,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CRM. Geode Capital Management LLC grew its holdings in Salesforce by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 19,955,353 shares of the CRM provider's stock worth $6,656,078,000 after purchasing an additional 175,035 shares during the period. Fisher Asset Management LLC grew its stake in shares of Salesforce by 1.4% in the 4th quarter. Fisher Asset Management LLC now owns 12,453,872 shares of the CRM provider's stock worth $4,163,703,000 after buying an additional 177,321 shares during the last quarter. Northern Trust Corp increased its position in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock valued at $3,752,830,000 after buying an additional 1,736,667 shares in the last quarter. Norges Bank purchased a new position in Salesforce during the fourth quarter valued at $3,599,867,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Salesforce by 23.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,938,536 shares of the CRM provider's stock worth $2,988,422,000 after acquiring an additional 1,683,233 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of the firm'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 transaction of $1,725,518.77. Following the sale, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction 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 approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 40,332 shares of company stock valued at $11,024,802. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

CRM has been the topic of a number of analyst reports. Canaccord Genuity Group dropped their price target on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Westpark Capital reiterated a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. 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. Morgan Stanley reaffirmed an "overweight" rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and a consensus price target of $346.34.

Salesforce Stock Down 1.5%

NYSE CRM traded down $4.06 during trading hours on Tuesday, hitting $268.19. 6,305,461 shares of the company were exchanged, compared to its average volume of 6,581,168. 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 firm has a market cap of $256.39 billion, a price-to-earnings ratio of 44.11, a PEG ratio of 2.58 and a beta of 1.38. The company has a 50 day moving average of $266.84 and a two-hundred day moving average of $301.47. Salesforce, Inc. has a 52-week low of $227.77 and a 52-week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the firm earned $2.44 earnings per share. The business's quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.62%. Salesforce's payout ratio is 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.