Salesforce, Inc. (NYSE:CRM) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc lowered its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 42.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,015 shares of the CRM provider's stock after selling 8,846 shares during the period. Fragasso Financial Advisors Inc's holdings in Salesforce were worth $3,224,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tallon Kerry Patrick acquired a new stake in shares of Salesforce in the fourth quarter worth $236,000. Brighton Jones LLC increased its position in shares of 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 purchasing an additional 3,102 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in Salesforce during the 4th quarter worth approximately $104,173,000. Revolve Wealth Partners LLC boosted its holdings in Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock worth $611,000 after purchasing an additional 205 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in shares of Salesforce during the fourth quarter valued at approximately $134,000. Hedge funds and other institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on CRM. Sanford C. Bernstein raised their target price on Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research report on Thursday, May 29th. Northland Securities dropped their target price on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Stifel Nicolaus reduced their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Citigroup reduced their price target on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, BMO Capital Markets cut their target price on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $346.34.

Insider Buying and Selling at Salesforce

In other news, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction dated Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now directly owns 29,190 shares of the company's stock, valued at approximately $8,416,644.60. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock valued at $11,024,802 over the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Trading Down 0.6%

Shares of NYSE:CRM traded down $1.62 during trading hours on Wednesday, hitting $262.85. 7,330,549 shares of the company's stock traded hands, compared to its average volume of 6,634,631. The firm has a market capitalization of $251.28 billion, a P/E ratio of 43.23, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00. The business has a fifty day moving average price of $266.65 and a 200-day moving average price of $303.58. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

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

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Investors of record on Thursday, April 10th were issued a $0.42 dividend. The ex-dividend date was Thursday, April 10th. This is a boost from Salesforce's previous quarterly dividend of $0.40. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. Salesforce's dividend payout ratio is currently 25.98%.

About Salesforce

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.