Personal CFO Solutions LLC Has $978,000 Position in Salesforce Inc. (NYSE:CRM)

Personal CFO Solutions LLC decreased its position in Salesforce Inc. (NYSE:CRM - Free Report) by 20.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,644 shares of the CRM provider's stock after selling 942 shares during the quarter. Personal CFO Solutions LLC's holdings in Salesforce were worth $978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CRM. Millstone Evans Group LLC acquired a new stake in Salesforce during the fourth quarter worth about $823,000. Heartland Bank & Trust Co grew its stake in shares of Salesforce by 117.2% during the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock valued at $1,605,000 after purchasing an additional 3,227 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $5,249,000. Elwood Capital Partners LP bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $1,337,000. Finally, Bestgate Wealth Advisors LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $441,000. 80.43% of the stock is currently owned by institutional investors.

Salesforce Stock Performance

Salesforce stock traded up $3.97 during midday trading on Tuesday, hitting $273.77. The company's stock had a trading volume of 6,657,147 shares, compared to its average volume of 6,543,226. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50-day moving average price of $272.36 and a two-hundred day moving average price of $290.63. The company has a market cap of $261.72 billion, a price-to-earnings ratio of 42.84, a PEG ratio of 2.47 and a beta of 1.36.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) 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 net margin of 16.08% and a return on equity of 12.94%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm 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 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 0.61%. Salesforce's dividend payout ratio is currently 25.98%.

Insiders Place Their Bets

In other news, insider Miguel Milano sold 405 shares of the firm's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the transaction, the insider directly owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 261 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $68,473.35. Following the sale, the chief accounting officer directly owned 12,024 shares of the company's stock, valued at $3,154,496.40. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,034 shares of company stock valued at $8,833,235 over the last ninety days. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CRM shares. Piper Sandler lifted their price objective on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Wells Fargo & Company raised their price target on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Northland Securities dropped their price objective on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Jefferies Financial Group reduced their target price on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, Stephens cut their target price on shares of Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $349.08.

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.