Salesforce, Inc. (NYSE:CRM) Stock Holdings Lessened by Rhumbline Advisers

Rhumbline Advisers decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,768,931 shares of the CRM provider's stock after selling 8,843 shares during the period. Salesforce makes up about 0.4% of Rhumbline Advisers' holdings, making the stock its 27th biggest position. Rhumbline Advisers owned approximately 0.18% of Salesforce worth $474,710,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new position in Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the fourth quarter valued at $27,000. Arlington Trust Co LLC grew its holdings in Salesforce by 85.1% in the fourth quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider's stock valued at $29,000 after purchasing an additional 40 shares during the last quarter. Compass Financial Services Inc acquired a new position in shares of Salesforce during the 4th quarter worth $30,000. Finally, Asset Planning Inc acquired a new position in shares of Salesforce during the 4th quarter worth $31,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Salesforce 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 transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This represents a 16.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Amy E. Weaver sold 6,221 shares of the company's stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 46,750 shares in the company, valued at approximately $12,967,047.50. This trade represents a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,332 shares of company stock worth $11,024,802 in the last three months. 3.20% of the stock is owned by insiders.

Salesforce Stock Up 1.1%

Shares of CRM traded up $2.94 during midday trading on Tuesday, reaching $264.56. 7,741,314 shares of the company were exchanged, compared to its average volume of 6,684,796. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The stock has a 50-day moving average price of $266.92 and a 200-day moving average price of $303.86. 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 company has a market cap of $254.35 billion, a price-to-earnings ratio of 43.51, a P/E/G ratio of 2.58 and a beta of 1.42.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly 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. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the prior year, the business earned $2.44 EPS. Salesforce's quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 24th. Shareholders of record on Thursday, April 10th were paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Thursday, April 10th. This is a positive change from Salesforce's previous quarterly dividend of $0.40. Salesforce's dividend payout ratio (DPR) is 25.98%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Loop Capital dropped their target price on shares of Salesforce from $330.00 to $300.00 and set a "hold" rating for the company in a report on Thursday, February 27th. Barclays dropped their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company upped their target price on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Bank of America lowered their target price on Salesforce from $440.00 to $400.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer reissued an "outperform" rating and issued a $370.00 price target (down from $380.00) on shares of Salesforce in a report on Thursday, May 29th. Two investment 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $346.34.

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.