Fairvoy Private Wealth LLC Has $403,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Fairvoy Private Wealth LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 48.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,503 shares of the CRM provider's stock after selling 1,440 shares during the quarter. Fairvoy Private Wealth LLC's holdings in Salesforce were worth $403,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new position in Salesforce in the fourth quarter worth $25,000. Accredited Wealth Management LLC bought a new position in Salesforce in the fourth quarter worth $27,000. Asset Planning Inc bought a new position in Salesforce in the fourth quarter worth $31,000. Halbert Hargrove Global Advisors LLC bought a new position in Salesforce in the fourth quarter worth $35,000. Finally, Wood Tarver Financial Group LLC bought a new position in Salesforce in the fourth quarter worth $35,000. 80.43% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Parker Harris sold 3,273 shares of Salesforce stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the transaction, the insider now owns 125,146 shares in the company, valued at $35,614,048.68. The trade was a 2.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares in the company, valued at $3,220,525. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock worth $11,024,802 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Robert W. Baird dropped their price objective on Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. Citigroup dropped their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Jefferies Financial Group dropped their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Mizuho dropped their price objective on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Salesforce Trading Down 3.2%

CRM traded down $8.66 during midday trading on Friday, reaching $258.25. 7,647,008 shares of the company were exchanged, compared to its average volume of 6,536,741. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a one year low of $227.77 and a one year high of $369.00. The stock has a market capitalization of $246.89 billion, a P/E ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. The stock's 50-day simple moving average is $268.09 and its 200 day simple moving average is $299.93.

Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the business earned $2.44 earnings per share. The company's revenue was up 7.6% compared to the same quarter last year. As a group, analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date 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.