1,042 Shares in Salesforce, Inc. (NYSE:CRM) Bought by Retirement Solution LLC

Retirement Solution LLC purchased a new stake in Salesforce, Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,042 shares of the CRM provider's stock, valued at approximately $280,000.

A number of other hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in Salesforce during the fourth quarter worth approximately $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth approximately $27,000. Asset Planning Inc acquired a new stake in shares of Salesforce during the 4th quarter worth approximately $31,000. Halbert Hargrove Global Advisors LLC bought a new position in Salesforce in the fourth quarter valued at approximately $35,000. Finally, Wood Tarver Financial Group LLC bought a new stake in Salesforce during the fourth quarter worth $35,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on CRM. Citigroup lowered their target price on Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research note on Friday, May 30th. Westpark Capital reiterated a "buy" rating and set a $320.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Bank of America reduced their price objective on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Mizuho dropped their price target on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Finally, Canaccord Genuity Group reduced their price target on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $346.34.

Salesforce Stock Performance

CRM traded up $4.07 during midday trading on Monday, reaching $262.47. The company had a trading volume of 2,355,404 shares, compared to its average volume of 6,520,638. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business has a 50-day moving average of $268.09 and a two-hundred day moving average of $299.72. The company has a market cap of $250.92 billion, a P/E ratio of 43.18, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm'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 EPS. As a group, equities research analysts predict that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

Insider Transactions at Salesforce

In related news, insider R David Schmaier sold 6,959 shares of the stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the sale, the insider now directly owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Parker Harris sold 3,273 shares of the company's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $284.58, for a total transaction of $931,430.34. Following the completion of the transaction, the insider now owns 125,146 shares of the company's stock, valued at approximately $35,614,048.68. This trade represents a 2.55% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,111 shares of company stock worth $9,299,283. Company insiders own 3.20% of the company's stock.

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.