Chilton Capital Management LLC Increases Stake in Salesforce Inc. (NYSE:CRM)

Chilton Capital Management LLC boosted its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 4.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 107,456 shares of the CRM provider's stock after buying an additional 4,650 shares during the quarter. Salesforce makes up about 1.2% of Chilton Capital Management LLC's holdings, making the stock its 28th largest position. Chilton Capital Management LLC's holdings in Salesforce were worth $28,837,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter worth about $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce during the 4th quarter worth approximately $27,000. Wood Tarver Financial Group LLC purchased a new position in Salesforce during the 4th quarter worth approximately $35,000. VSM Wealth Advisory LLC purchased a new position in Salesforce during the 4th quarter worth approximately $45,000. Finally, Vermillion Wealth Management Inc. grew its position in shares of Salesforce by 138.9% during the first quarter. Vermillion Wealth Management Inc. now owns 172 shares of the CRM provider's stock worth $46,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company's stock.

Insiders Place Their Bets

In related news, insider Srinivas Tallapragada sold 1,269 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $332,922.15. Following the transaction, the insider owned 42,678 shares of the company's stock, valued at approximately $11,196,573.30. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Miguel Milano sold 405 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the transaction, the insider directly owned 9,933 shares in the company, valued at $2,605,922.55. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,534 shares of company stock valued at $7,609,842. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. Westpark Capital reissued a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Royal Bank Of Canada lowered Salesforce from an "outperform" rating to a "sector perform" rating and lowered their price target for the stock from $420.00 to $275.00 in a report on Thursday, May 29th. Sanford C. Bernstein raised their price target on Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a report on Thursday, May 29th. Finally, Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Price Performance

CRM traded up $2.37 during trading on Friday, reaching $271.58. 5,031,804 shares of the stock were exchanged, compared to its average volume of 6,543,799. The business's 50 day moving average price is $272.28 and its two-hundred day moving average price is $291.46. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $259.63 billion, a price-to-earnings ratio of 42.50, a P/E/G ratio of 2.47 and a beta of 1.36. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping 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 business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Salesforce 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.