Broderick Brian C Acquires 3,932 Shares of Salesforce Inc. (NYSE:CRM)

Broderick Brian C increased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 58.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,696 shares of the CRM provider's stock after purchasing an additional 3,932 shares during the period. Broderick Brian C's holdings in Salesforce were worth $2,870,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Tallon Kerry Patrick acquired a new stake in Salesforce in the 4th quarter valued at approximately $236,000. Brighton Jones LLC raised its position in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Salesforce in the 4th quarter valued at approximately $104,173,000. Revolve Wealth Partners LLC increased its position in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares during the last quarter. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $204,000. Institutional investors own 80.43% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Jefferies Financial Group lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. BMO Capital Markets lowered their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. Citigroup lowered their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research report on Friday, May 30th. Wells Fargo & Company boosted their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Stock Performance

CRM traded down $3.78 during trading on Thursday, hitting $258.98. The stock had a trading volume of 7,623,720 shares, compared to its average volume of 6,535,521. The company has a 50 day moving average price of $268.31 and a 200-day moving average price of $298.72. The firm has a market cap of $247.59 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 2.35 and a beta of 1.38. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings results 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 business had revenue of $9.83 billion during 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 firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.44 EPS. As a group, research analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business 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 25.98%.

Insider Activity

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider now directly owns 36,090 shares in the company, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 705 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the sale, the insider now owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 34,111 shares of company stock worth $9,299,283. 3.20% of the stock is currently owned by company insiders.

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.