Kingswood Wealth Advisors LLC Acquires 8,188 Shares of Salesforce Inc. (NYSE:CRM)

Kingswood Wealth Advisors LLC raised its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 104.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,003 shares of the CRM provider's stock after purchasing an additional 8,188 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Salesforce were worth $4,311,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CRM. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Prossimo Advisors LLC lifted its stake in shares of Salesforce by 1.0% in the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares during the last quarter. Mainstream Capital Management LLC lifted its stake in shares of Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after acquiring an additional 33 shares during the last quarter. Citizens National Bank Trust Department lifted its stake in shares of Salesforce by 1.9% in the 4th quarter. Citizens National Bank Trust Department now owns 1,924 shares of the CRM provider's stock valued at $643,000 after acquiring an additional 35 shares during the last quarter. Finally, Delap Wealth Advisory LLC lifted its stake in shares of Salesforce by 2.7% in the 4th quarter. Delap Wealth Advisory LLC now owns 1,336 shares of the CRM provider's stock valued at $447,000 after acquiring an additional 35 shares during the last quarter. 80.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the topic of several recent research reports. Robert W. Baird cut their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a report on Thursday, February 27th. Mizuho decreased their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $349.08.

Salesforce Stock Down 1.4%

Salesforce stock traded down $3.78 during mid-day trading on Thursday, reaching $258.98. The stock had a trading volume of 7,623,720 shares, compared to its average volume of 6,535,521. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock's 50-day simple moving average is $268.39 and its 200-day simple moving average is $298.23. The firm has a market capitalization of $247.59 billion, a PE ratio of 40.53, a price-to-earnings-growth ratio of 2.35 and a beta of 1.38.

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. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter last year, the firm posted $2.44 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. On average, sell-side analysts forecast 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 will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be given a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce's payout ratio is 25.98%.

Insider Activity at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian Millham sold 3,937 shares of Salesforce stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total value of $1,120,391.46. Following the transaction, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. The trade was a 41.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,111 shares of company stock valued at $9,299,283 over the last 90 days. 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.