Diversify Wealth Management LLC Purchases 2,799 Shares of Salesforce Inc. (NYSE:CRM)

Diversify Wealth Management LLC grew its position in Salesforce Inc. (NYSE:CRM - Free Report) by 11.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,479 shares of the CRM provider's stock after acquiring an additional 2,799 shares during the period. Diversify Wealth Management LLC's holdings in Salesforce were worth $7,090,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CRM. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce during the 4th quarter worth $27,000. Abound Financial LLC acquired a new stake in Salesforce during the 1st quarter worth $31,000. Wood Tarver Financial Group LLC acquired a new stake in Salesforce during the 4th quarter worth $35,000. Finally, VSM Wealth Advisory LLC acquired a new stake in Salesforce during the 4th quarter worth $45,000. Institutional investors own 80.43% of the company's stock.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 1,142 shares of the 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 $299,603.70. Following the sale, the insider owned 136,824 shares in the company, valued at approximately $35,895,776.40. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Srinivas Tallapragada sold 1,269 shares of the firm'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 completion of the sale, the insider owned 42,678 shares in the company, valued at $11,196,573.30. This represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,284 shares of company stock worth $9,444,537 in the last three months. Company insiders own 3.20% of the company's stock.

Salesforce Stock Down 2.6%

Salesforce stock opened at $263.95 on Friday. The stock has a market cap of $252.34 billion, a P/E ratio of 41.31, a P/E/G ratio of 2.46 and a beta of 1.36. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company's 50-day moving average price is $272.43 and its two-hundred day moving average price is $289.84.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results 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 company had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same period last year, the firm earned $2.44 earnings per share. The business's revenue for the quarter was up 7.6% on a year-over-year basis. As a group, analysts expect that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given 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 dividend yield of 0.63%. Salesforce's dividend payout ratio is 25.98%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CRM. UBS Group set a $404.00 price target on shares of Salesforce and gave the company an "overweight" rating in a report on Wednesday, June 18th. Macquarie reissued a "neutral" rating and issued a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. BMO Capital Markets decreased their price target on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a report on Thursday. Scotiabank decreased their price target on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Finally, The Goldman Sachs Group upped their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $348.68.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.