Salesforce Inc. (NYSE:CRM) Shares Acquired by Private Wealth Partners LLC

Private Wealth Partners LLC lifted its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 25.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,010 shares of the CRM provider's stock after buying an additional 4,069 shares during the quarter. Private Wealth Partners LLC's holdings in Salesforce were worth $5,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Advisor Resource Council acquired a new stake in shares of Salesforce in the first quarter worth approximately $3,849,000. Segment Wealth Management LLC grew its stake in Salesforce by 6.7% during the first quarter. Segment Wealth Management LLC now owns 10,179 shares of the CRM provider's stock worth $2,732,000 after buying an additional 641 shares during the period. L.M. Kohn & Company grew its stake in Salesforce by 7.5% during the first quarter. L.M. Kohn & Company now owns 8,989 shares of the CRM provider's stock worth $2,412,000 after buying an additional 626 shares during the period. Proathlete Wealth Management LLC purchased a new stake in Salesforce during the first quarter worth approximately $70,000. Finally, Osborne Partners Capital Management LLC grew its stake in Salesforce by 0.8% during the first quarter. Osborne Partners Capital Management LLC now owns 62,574 shares of the CRM provider's stock worth $16,792,000 after buying an additional 500 shares during the period. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $1.29 on Friday, reaching $260.79. 12,802,546 shares of the company's stock were exchanged, compared to its average volume of 6,527,719. The firm has a market capitalization of $249.31 billion, a price-to-earnings ratio of 40.81, a PEG ratio of 2.35 and a beta of 1.38. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The business's 50-day moving average is $268.51 and its two-hundred day moving average is $297.74. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM - Get Free Report) last issued 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 company had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 earnings per share. As a group, equities research analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the stock in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. This trade represents a 13.92% 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 in the last quarter. Company insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CRM shares. Cantor Fitzgerald reiterated an "overweight" rating and set a $325.00 price objective on shares of Salesforce in a research note on Friday. Sanford C. Bernstein boosted their price objective on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Scotiabank decreased their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Canaccord Genuity Group decreased their price objective on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, May 28th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and an average target price of $349.08.

About Salesforce

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.