Burling Wealth Partners LLC Has $5.31 Million Holdings in Salesforce Inc. (NYSE:CRM)

Burling Wealth Partners LLC lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,778 shares of the CRM provider's stock after acquiring an additional 1,286 shares during the period. Salesforce accounts for approximately 1.1% of Burling Wealth Partners LLC's portfolio, making the stock its 24th biggest holding. Burling Wealth Partners LLC's holdings in Salesforce were worth $5,308,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wulff Hansen & CO. grew its stake in shares of Salesforce by 3.5% during the fourth quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock worth $346,000 after buying an additional 35 shares during the last quarter. Seven Mile Advisory grew its stake in shares of Salesforce by 2.3% during the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock worth $589,000 after buying an additional 39 shares during the last quarter. Liberty One Investment Management LLC grew its stake in shares of Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after buying an additional 39 shares during the last quarter. First Command Advisory Services Inc. grew its stake in shares of Salesforce by 7.3% in the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock worth $154,000 after purchasing an additional 39 shares during the last quarter. Finally, Clarity Wealth Advisors LLC grew its stake in shares of Salesforce by 2.3% in the first quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock worth $472,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. DA Davidson reaffirmed an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Northland Securities cut their price objective on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research report on Thursday, May 29th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Price Performance

Shares of NYSE:CRM traded up $2.52 during midday trading on Friday, hitting $262.40. 6,376,432 shares of the stock were exchanged, compared to its average volume of 6,555,507. The company has a 50 day moving average price of $270.45 and a 200-day moving average price of $286.50. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The stock has a market cap of $250.85 billion, a P/E ratio of 41.06, a PEG ratio of 2.36 and a beta of 1.36. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the previous year, the business earned $2.44 EPS. The company's revenue for the quarter was up 7.6% on a year-over-year basis. On average, research analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.63%. Salesforce's dividend payout ratio is currently 25.98%.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the sale, the insider directly owned 41,422 shares of the company's stock, valued at approximately $12,219,490. This represents a 13.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the sale, the chief executive officer directly owned 11,862,457 shares of the company's stock, valued at approximately $3,232,282,283.36. This represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,819 shares of company stock worth $9,111,823. Corporate insiders own 3.20% of the company's stock.

Salesforce Company 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.