Hennion & Walsh Asset Management Inc. Purchases 1,833 Shares of Salesforce, Inc. (NYSE:CRM)

Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 11.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,310 shares of the CRM provider's stock after buying an additional 1,833 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Salesforce were worth $4,914,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Tallon Kerry Patrick acquired a new position in Salesforce in the fourth quarter worth approximately $236,000. Brighton Jones LLC boosted its position in shares of Salesforce by 13.7% in 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 period. Union Bancaire Privee UBP SA bought a new stake in shares of Salesforce in the fourth quarter valued at approximately $104,173,000. Revolve Wealth Partners LLC boosted its position in shares of Salesforce by 12.6% in 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 period. Finally, DAVENPORT & Co LLC boosted its position in shares of Salesforce by 4.0% in the fourth quarter. DAVENPORT & Co LLC now owns 6,679 shares of the CRM provider's stock valued at $2,233,000 after acquiring an additional 257 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CAO Sundeep G. Reddy sold 500 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 40,332 shares of company stock worth $11,024,802 over the last three months. 3.20% of the stock is currently owned by company insiders.

Salesforce Trading Up 2.7%

CRM stock traded up $7.34 during midday trading on Friday, reaching $274.48. The stock had a trading volume of 7,500,949 shares, compared to its average volume of 6,590,016. The business has a fifty day simple moving average of $266.57 and a two-hundred day simple moving average of $302.58. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $262.40 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month 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, topping analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company's revenue was up 7.6% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. As a group, research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.61%. Salesforce's payout ratio is 25.98%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Loop Capital reduced their target price on Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic assumed coverage on Salesforce in a research report on Wednesday, February 19th. They issued a "buy" rating for the company. Macquarie reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. Finally, Piper Sandler raised their target price on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently 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.