Naples Global Advisors LLC Increases Holdings in Salesforce, Inc. (NYSE:CRM)

Naples Global Advisors LLC raised its stake in Salesforce, Inc. (NYSE:CRM - Free Report) by 14.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,120 shares of the CRM provider's stock after purchasing an additional 1,607 shares during the period. Naples Global Advisors LLC's holdings in Salesforce were worth $3,521,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Grassi Investment Management boosted its holdings in shares of Salesforce by 4.2% in the 1st quarter. Grassi Investment Management now owns 33,514 shares of the CRM provider's stock valued at $8,994,000 after buying an additional 1,350 shares in the last quarter. Warren Street Wealth Advisors LLC lifted its position in Salesforce by 6.7% during the first quarter. Warren Street Wealth Advisors LLC now owns 956 shares of the CRM provider's stock valued at $257,000 after acquiring an additional 60 shares during the last quarter. Secure Asset Management LLC boosted its stake in Salesforce by 25.8% in the first quarter. Secure Asset Management LLC now owns 9,244 shares of the CRM provider's stock valued at $2,481,000 after acquiring an additional 1,893 shares in the last quarter. Portside Wealth Group LLC grew its holdings in Salesforce by 11.6% in the first quarter. Portside Wealth Group LLC now owns 4,626 shares of the CRM provider's stock worth $1,241,000 after purchasing an additional 479 shares during the last quarter. Finally, Long Run Wealth Advisors LLC grew its holdings in Salesforce by 16.5% in the first quarter. Long Run Wealth Advisors LLC now owns 1,796 shares of the CRM provider's stock worth $482,000 after purchasing an additional 255 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Salesforce Price Performance

NYSE:CRM traded up $7.34 during trading hours on Friday, reaching $274.48. 7,500,949 shares of the company were exchanged, compared to its average volume of 6,611,492. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The firm has a market cap of $262.40 billion, a PE ratio of 45.14, a price-to-earnings-growth 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. The stock's 50-day moving average is $266.48 and its 200-day moving average is $302.92.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results 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 business had revenue of $9.83 billion during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 earnings per share. On average, sell-side analysts anticipate that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company 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 $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.61%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Transactions at Salesforce

In other Salesforce news, CFO Amy E. Weaver sold 6,221 shares of Salesforce stock in a transaction on Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the sale, the chief financial officer now owns 46,750 shares of the company's stock, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 1,909 shares of the company's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now directly owns 11,310 shares of the company's stock, valued at $3,218,599.80. The trade was a 14.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock valued at $11,024,802 over the last ninety days. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CRM shares. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price objective (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Guggenheim upgraded Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. Bank of America dropped their price target on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a report on Thursday, May 29th. Finally, DA Davidson reiterated an "underperform" rating and issued a $200.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $346.34.

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.