Jackson Creek Investment Advisors LLC Sells 1,446 Shares of Salesforce Inc. (NYSE:CRM)

Jackson Creek Investment Advisors LLC lessened its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 51.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,382 shares of the CRM provider's stock after selling 1,446 shares during the quarter. Jackson Creek Investment Advisors LLC's holdings in Salesforce were worth $371,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Seven Mile Advisory grew its holdings in shares of Salesforce by 2.3% during the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock worth $589,000 after purchasing an additional 39 shares during the last quarter. Liberty One Investment Management LLC grew its holdings in Salesforce by 1.2% during the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock worth $849,000 after acquiring an additional 39 shares during the last quarter. First Command Advisory Services Inc. raised its stake in shares of Salesforce by 7.3% during the first quarter. First Command Advisory Services Inc. now owns 572 shares of the CRM provider's stock valued at $154,000 after acquiring an additional 39 shares during the last quarter. Clarity Wealth Advisors LLC lifted its holdings in shares of Salesforce by 2.3% during the first quarter. Clarity Wealth Advisors LLC now owns 1,760 shares of the CRM provider's stock worth $472,000 after purchasing an additional 40 shares during the period. Finally, Kozak & Associates Inc. increased its holdings in Salesforce by 1.6% in the first quarter. Kozak & Associates Inc. now owns 2,571 shares of the CRM provider's stock valued at $654,000 after purchasing an additional 41 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $257.02, for a total value of $578,295.00. Following the completion of the sale, the chief executive officer owned 11,911,571 shares in the company, valued at approximately $3,061,511,978.42. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 261 shares of the firm's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $68,473.35. Following the completion of the transaction, the chief accounting officer owned 12,024 shares in the company, valued at $3,154,496.40. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,819 shares of company stock valued at $9,111,823. 3.20% of the stock is owned by insiders.

Salesforce Trading Up 1.0%

Shares of CRM stock opened at $262.40 on Friday. The business has a 50-day moving average price of $270.45 and a two-hundred day moving average price of $286.50. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. 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 firm has a market cap of $250.85 billion, a P/E ratio of 41.06, a price-to-earnings-growth ratio of 2.36 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. 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 earnings per share. The business's quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th were paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Citigroup cut their price objective on Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a research note on Friday, May 30th. Westpark Capital reaffirmed a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Stephens decreased their price objective on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Erste Group Bank downgraded shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Finally, DA Davidson reaffirmed an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

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.

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