Financial Counselors Inc. Buys 3,869 Shares of Salesforce Inc. (NYSE:CRM)

Financial Counselors Inc. increased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 175,631 shares of the CRM provider's stock after acquiring an additional 3,869 shares during the quarter. Financial Counselors Inc.'s holdings in Salesforce were worth $47,132,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of CRM. Brighton Jones LLC raised its holdings in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock worth $8,582,000 after acquiring an additional 3,102 shares during the period. Revolve Wealth Partners LLC raised its holdings in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after acquiring an additional 205 shares during the period. Proficio Capital Partners LLC raised its holdings in Salesforce by 70.4% in the 4th quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider's stock worth $933,000 after acquiring an additional 1,153 shares during the period. Edgestream Partners L.P. bought a new position in Salesforce in the 4th quarter worth $1,476,000. Finally, RKL Wealth Management LLC bought a new position in Salesforce in the 4th quarter worth $232,000. Institutional investors own 80.43% of the company's stock.

Salesforce Trading Up 2.3%

NYSE CRM traded up $6.11 during trading hours on Tuesday, hitting $275.91. The company's stock had a trading volume of 1,956,956 shares, compared to its average volume of 6,525,856. The stock has a fifty day moving average of $272.36 and a 200 day moving average of $290.63. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The firm has a market capitalization of $263.77 billion, a P/E ratio of 43.16, a PEG ratio of 2.47 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 (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating 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 prior year, the business posted $2.44 earnings per share. Salesforce's revenue was up 7.6% compared to the same quarter last year. Equities research 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. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.60%. Salesforce's dividend payout ratio is currently 25.98%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Cantor Fitzgerald restated an "overweight" rating and set a $325.00 price objective on shares of Salesforce in a report on Thursday, June 26th. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Barclays dropped their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Piper Sandler boosted their price objective on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Finally, The Goldman Sachs Group boosted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, Salesforce currently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Insiders Place Their Bets

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $272.48, for a total value of $613,080.00. Following the sale, the chief executive officer directly owned 11,862,457 shares in the company, valued at approximately $3,232,282,283.36. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Parker Harris sold 1,142 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $299,603.70. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,784 shares of company stock valued at $8,223,890 over the last three months. 3.20% of the stock is owned by insiders.

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.