Calton & Associates Inc. Invests $313,000 in Salesforce Inc. $CRM

Key Points

• Calton & Associates Inc. invested approximately $313,000 in Salesforce Inc., acquiring 1,168 shares of the CRM provider's stock during the first quarter.
• Salesforce has a market capitalization of $245.09 billion with a 12-month low of $226.48 and a high of $369.00, reflecting significant stock price fluctuations.
• Recent analyst ratings show a consensus of "Moderate Buy" for Salesforce, with a consensus price target of $341.47 based on 24 buy ratings and one sell rating.

Calton & Associates Inc. purchased a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,168 shares of the CRM provider's stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. AIA Group Ltd grew its stake in Salesforce by 8.0% in the 1st quarter. AIA Group Ltd now owns 32,885 shares of the CRM provider's stock valued at $8,825,000 after buying an additional 2,436 shares during the last quarter. Notis McConarty Edward boosted its holdings in shares of Salesforce by 71.6% during the first quarter. Notis McConarty Edward now owns 3,844 shares of the CRM provider's stock worth $1,032,000 after acquiring an additional 1,604 shares during the period. Aberdeen Group plc boosted its holdings in shares of Salesforce by 1.5% during the first quarter. Aberdeen Group plc now owns 1,036,482 shares of the CRM provider's stock worth $274,802,000 after acquiring an additional 15,782 shares during the period. Leith Wheeler Investment Counsel Ltd. grew its position in shares of Salesforce by 43.0% in the first quarter. Leith Wheeler Investment Counsel Ltd. now owns 104,834 shares of the CRM provider's stock valued at $28,133,000 after purchasing an additional 31,537 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt increased its stake in shares of Salesforce by 121.9% during the first quarter. Alecta Tjanstepension Omsesidigt now owns 355,000 shares of the CRM provider's stock worth $95,222,000 after purchasing an additional 195,000 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $255.30, for a total value of $574,425.00. Following the completion of the transaction, the chief executive officer owned 11,911,571 shares of the company's stock, valued at $3,041,024,076.30. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 61,577 shares of company stock worth $15,776,163. Company insiders own 3.00% of the company's stock.

Salesforce Price Performance

Shares of CRM traded down $3.31 during mid-day trading on Tuesday, reaching $252.94. The company had a trading volume of 9,290,237 shares, compared to its average volume of 7,251,401. The company's 50 day simple moving average is $257.20 and its 200 day simple moving average is $268.36. The company has a market capitalization of $241.81 billion, a price-to-earnings ratio of 39.58, a P/E/G ratio of 2.33 and a beta of 1.22. Salesforce Inc. has a 1-year low of $226.48 and a 1-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.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CRM shares. Oppenheimer reduced their price target on Salesforce from $370.00 to $315.00 and set an "outperform" rating for the company in a research note on Tuesday, August 26th. Canaccord Genuity Group dropped their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. UBS Group reduced their target price on shares of Salesforce from $300.00 to $260.00 and set a "neutral" rating for the company in a research report on Monday, August 18th. Barclays lowered their price target on shares of Salesforce from $347.00 to $316.00 and set an "overweight" rating on the stock in a research report on Monday, August 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $341.50.

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.