Salesforce, Inc. (NYSE:CRM) Shares Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. grew its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 65.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,720 shares of the CRM provider's stock after purchasing an additional 8,228 shares during the period. Harbor Capital Advisors Inc.'s holdings in Salesforce were worth $5,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bernard Wealth Management Corp. bought a new stake in Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC bought a new position in shares of Salesforce in the fourth quarter worth approximately $27,000. Arlington Trust Co LLC raised its position in Salesforce by 85.1% during the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the period. Asset Planning Inc purchased a new position in shares of Salesforce in the fourth quarter worth about $31,000. Finally, Collier Financial acquired a new stake in Salesforce during the fourth quarter worth $32,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Trading Up 0.3%

NYSE:CRM traded up $0.86 during mid-day trading on Thursday, hitting $266.77. 3,249,578 shares of the stock traded hands, compared to its average volume of 6,566,002. The stock has a market capitalization of $255.03 billion, a price-to-earnings ratio of 43.88, a PEG ratio of 2.58 and a beta of 1.38. The firm's 50 day moving average is $267.35 and its two-hundred day moving average is $301.22. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 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%. The company's quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current 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 paid a $0.416 dividend. This represents a $1.66 annualized dividend and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is 25.98%.

Insider Activity

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

Analysts Set New Price Targets

Several brokerages have recently weighed in on CRM. Redburn Atlantic assumed coverage on shares of Salesforce in a research note on Wednesday, February 19th. They issued a "buy" rating for the company. UBS Group reduced their price objective on shares of Salesforce from $320.00 to $300.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 27th. Scotiabank lowered their price objective on Salesforce from $400.00 to $345.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Piper Sandler upped their price objective on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Finally, Citigroup lowered their price objective on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Two research 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Company 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.