Coastline Trust Co Purchases 1,090 Shares of Salesforce Inc. (NYSE:CRM)

Coastline Trust Co boosted its position in Salesforce Inc. (NYSE:CRM - Free Report) by 17.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,425 shares of the CRM provider's stock after purchasing an additional 1,090 shares during the period. Coastline Trust Co's holdings in Salesforce were worth $1,993,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after buying an additional 205 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new stake in Salesforce during the fourth quarter worth approximately $59,000. Steward Partners Investment Advisory LLC grew its position in Salesforce by 3.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 125,570 shares of the CRM provider's stock worth $41,982,000 after buying an additional 4,023 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Salesforce by 2.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,066,354 shares of the CRM provider's stock valued at $2,028,164,000 after buying an additional 153,500 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 1,525 shares of Salesforce stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the sale, the chief accounting officer directly owned 12,211 shares in the company, valued at approximately $3,097,442.26. The trade was a 11.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated 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 transaction, the insider owned 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,534 shares of company stock worth $7,609,842. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research reports. BMO Capital Markets reduced their price objective on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. UBS Group set a $404.00 price target on Salesforce and gave the stock an "overweight" rating in a research note on Wednesday, June 18th. Erste Group Bank lowered shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Oppenheimer reissued an "outperform" rating and issued a $370.00 target price on shares of Salesforce in a research report on Tuesday, June 10th. Finally, Macquarie restated a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a research report on Thursday, March 20th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Salesforce Stock Down 1.0%

CRM traded down $2.85 during trading on Wednesday, reaching $269.06. The company had a trading volume of 6,075,671 shares, compared to its average volume of 6,537,138. The business's fifty day moving average price is $271.69 and its 200 day moving average price is $293.08. 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 Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The company has a market cap of $257.22 billion, a P/E ratio of 42.11, a PEG ratio of 2.47 and a beta of 1.37.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. Equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.62%. The ex-dividend date is Wednesday, June 18th. Salesforce's payout ratio is 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.