Grant Private Wealth Management Inc Boosts Stake in Salesforce, Inc. (NYSE:CRM)

Grant Private Wealth Management Inc boosted its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 44.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,214 shares of the CRM provider's stock after purchasing an additional 1,592 shares during the period. Salesforce makes up 1.5% of Grant Private Wealth Management Inc's portfolio, making the stock its 16th largest position. Grant Private Wealth Management Inc's holdings in Salesforce were worth $1,399,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in CRM. Tallon Kerry Patrick bought a new stake in Salesforce in the fourth quarter worth $236,000. Brighton Jones LLC raised its stake in shares of Salesforce by 13.7% during the fourth quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of Salesforce during the fourth quarter valued at about $104,173,000. Revolve Wealth Partners LLC raised its stake in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. Finally, Asset Planning Inc bought a new position in shares of Salesforce during the fourth quarter valued at about $31,000. 80.43% of the stock is owned by institutional investors.

Salesforce Price Performance

Shares of CRM stock traded down $8.66 on Friday, hitting $258.25. 7,647,008 shares of the stock traded hands, compared to its average volume of 6,536,741. The firm has a market cap of $246.89 billion, a price-to-earnings ratio of 42.48, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00. The firm has a 50 day simple moving average of $268.09 and a two-hundred day simple moving average of $299.93. 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 announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.44 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given 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 0.64%. Salesforce's dividend payout ratio is currently 25.98%.

Insider Buying and Selling at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at approximately $12,967,047.50. The trade was a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock worth $11,024,802 over the last 90 days. Company insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on CRM shares. BMO Capital Markets lowered their price objective on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Robert W. Baird lowered their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research note on Thursday, February 27th. 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. Morgan Stanley reiterated an "overweight" rating and set a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, Piper Sandler boosted their price target on shares of Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

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.