Fiduciary Family Office LLC Invests $1.42 Million in Salesforce Inc. (NYSE:CRM)

Key Points

• Fiduciary Family Office LLC invested $1.42 million in Salesforce Inc., purchasing 5,290 shares as reported in their most recent SEC filing.
• CEO Marc Benioff sold 2,250 shares of Salesforce for approximately $558,900, but continues to hold over 11.9 million shares.
• Salesforce recently reported earnings with a net margin of 16.08% and a revenue of $9.83 billion, surpassing analysts' expectations.

Fiduciary Family Office LLC purchased a new position in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,290 shares of the CRM provider's stock, valued at approximately $1,420,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Coign Capital Advisors LLC grew its stake in Salesforce by 1.7% during the first quarter. Coign Capital Advisors LLC now owns 2,183 shares of the CRM provider's stock valued at $586,000 after acquiring an additional 37 shares in the last quarter. Liberty One Investment Management LLC grew its stake in Salesforce by 1.2% during the first quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after acquiring an additional 39 shares in the last quarter. First Command Advisory Services Inc. grew its stake in Salesforce by 7.3% during the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock valued at $154,000 after acquiring an additional 39 shares in the last quarter. Mendel Money Management grew its stake in Salesforce by 3.6% during the first quarter. Mendel Money Management now owns 1,112 shares of the CRM provider's stock valued at $298,000 after acquiring an additional 39 shares in the last quarter. Finally, Clarity Wealth Advisors LLC grew its stake in Salesforce by 2.3% during the first quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock valued at $472,000 after acquiring an additional 40 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Buying and Selling at Salesforce

In related news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $248.40, for a total transaction of $558,900.00. Following the sale, the chief executive officer directly owned 11,911,571 shares of the company's stock, valued at approximately $2,958,834,236.40. This represents a 0.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 46,479 shares of company stock valued at $12,457,591. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CRM shares. Westpark Capital reaffirmed a "buy" rating and set a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. BMO Capital Markets reduced their price objective on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday, July 10th. Cantor Fitzgerald cut shares of Salesforce from an "overweight" rating to a "cautious" rating in a research note on Thursday, July 10th. JMP Securities reissued a "market outperform" rating and issued a $430.00 price target on shares of Salesforce in a research note on Friday, July 11th. Finally, Northland Securities cut their price target on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Down 0.3%

NYSE:CRM opened at $240.09 on Friday. The firm's 50-day moving average price is $263.47 and its 200-day moving average price is $279.50. The company has a market capitalization of $229.53 billion, a PE ratio of 37.57, a P/E/G ratio of 2.19 and a beta of 1.37. 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 1-year low of $230.00 and a 1-year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, equities analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

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

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