Insigneo Advisory Services LLC Grows Stock Holdings in Salesforce Inc. (NYSE:CRM)

Insigneo Advisory Services LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 30.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 12,130 shares of the CRM provider's stock after acquiring an additional 2,851 shares during the period. Insigneo Advisory Services LLC's holdings in Salesforce were worth $3,255,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. NBT Bank N A NY increased its stake in shares of Salesforce by 2.8% in the first quarter. NBT Bank N A NY now owns 14,362 shares of the CRM provider's stock valued at $3,854,000 after buying an additional 391 shares during the period. Consilium Wealth Advisory LLC boosted its holdings in Salesforce by 2.5% in the first quarter. Consilium Wealth Advisory LLC now owns 3,759 shares of the CRM provider's stock valued at $1,009,000 after acquiring an additional 90 shares during the last quarter. AA Financial Advisors LLC increased its position in Salesforce by 5.3% during the 1st quarter. AA Financial Advisors LLC now owns 6,675 shares of the CRM provider's stock valued at $1,791,000 after purchasing an additional 335 shares during the period. WD Rutherford LLC lifted its position in shares of Salesforce by 0.4% in the 1st quarter. WD Rutherford LLC now owns 14,023 shares of the CRM provider's stock worth $3,575,000 after purchasing an additional 59 shares during the period. Finally, Inscription Capital LLC bought a new stake in shares of Salesforce in the 1st quarter valued at $685,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird lowered their target price 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. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Piper Sandler boosted their price objective on Salesforce from $315.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, May 28th. Barclays decreased their target price on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Finally, Stephens dropped their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $346.34.

Salesforce Stock Down 1.4%

CRM stock traded down $3.78 during trading on Wednesday, reaching $258.98. The stock had a trading volume of 7,623,720 shares, compared to its average volume of 6,535,519. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $247.59 billion, a price-to-earnings ratio of 40.53, a P/E/G ratio of 2.38 and a beta of 1.38. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company's 50 day moving average is $268.43 and its two-hundred day moving average is $299.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. Equities research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio is presently 25.98%.

Insider Transactions at Salesforce

In other Salesforce news, insider Miguel Milano sold 705 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total value of $197,005.20. Following the sale, the insider now directly owns 9,323 shares in the company, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction 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 transaction, the insider now directly owns 41,422 shares in the company, valued at $12,219,490. This represents a 13.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,111 shares of company stock worth $9,299,283 in the last ninety days. Company insiders own 3.20% of the company's stock.

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.