Caliber Wealth Management LLC KS Buys New Shares in Salesforce Inc. (NYSE:CRM)

Key Points

• Caliber Wealth Management LLC KS invested approximately $1.88 million in Salesforce Inc., acquiring 7,011 shares during the first quarter.
• Salesforce reported an earnings per share (EPS) of $2.58 for the recent quarter, exceeding analyst expectations, with a year-over-year revenue increase of 7.6%.
• Salesforce's recent quarterly dividend was $0.416 per share, with a yield of 0.62% and a payout ratio of 25.98%.

Caliber Wealth Management LLC KS acquired a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 7,011 shares of the CRM provider's stock, valued at approximately $1,882,000.

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank bought a new position in shares of Salesforce during the fourth quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its holdings in shares of Salesforce by 926.4% in the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider's stock worth $1,422,979,000 after purchasing an additional 3,841,521 shares during the last quarter. GAMMA Investing LLC grew its stake in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider's stock worth $1,020,194,000 after buying an additional 3,789,147 shares during the last quarter. Invesco Ltd. increased its position in Salesforce by 42.5% in the fourth quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider's stock worth $2,604,770,000 after buying an additional 2,325,156 shares during the period. Finally, Northern Trust Corp grew its position in shares of Salesforce by 18.3% during the fourth quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider's stock worth $3,752,830,000 after acquiring an additional 1,736,667 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. DA Davidson reaffirmed an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Mizuho decreased their price objective on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Erste Group Bank downgraded Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $404.00 target price (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Insider Activity at Salesforce

In other news, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider owned 41,422 shares in the company, valued at $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total transaction of $611,302.50. Following the completion of the transaction, the chief executive officer owned 11,862,457 shares of the company's stock, valued at $3,222,910,942.33. This trade represents a 0.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,479 shares of company stock valued at $9,091,796 in the last quarter. Corporate insiders own 3.20% of the company's stock.

Salesforce Trading Up 0.5%

NYSE:CRM traded up $1.41 during trading hours on Friday, hitting $269.11. The stock had a trading volume of 4,013,320 shares, compared to its average volume of 6,704,325. 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 quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $257.27 billion, a price-to-earnings ratio of 42.11, a P/E/G ratio of 2.43 and a beta of 1.36. The business's 50 day moving average is $268.07 and its 200-day moving average is $284.27.

Salesforce (NYSE:CRM - Get Free Report) last issued its 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 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the firm earned $2.44 earnings per share. The business's quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were issued a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) 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.