Salesforce Inc. (NYSE:CRM) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 6.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,589,450 shares of the CRM provider's stock after purchasing an additional 95,957 shares during the period. Envestnet Asset Management Inc. owned 0.17% of Salesforce worth $426,545,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce in the 4th quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the 4th quarter worth about $27,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce during the 4th quarter worth about $35,000. VSM Wealth Advisory LLC acquired a new position in shares of Salesforce in the 4th quarter valued at about $45,000. Finally, Vermillion Wealth Management Inc. lifted its stake in shares of Salesforce by 138.9% in the 1st quarter. Vermillion Wealth Management Inc. now owns 172 shares of the CRM provider's stock valued at $46,000 after purchasing an additional 100 shares during the period. Institutional investors own 80.43% of the company's stock.

Insider Activity at Salesforce

In other news, insider Srinivas Tallapragada sold 1,269 shares of Salesforce stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $332,922.15. Following the transaction, the insider directly owned 42,678 shares of the company's stock, valued at $11,196,573.30. The trade was a 2.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc Benioff sold 2,250 shares of the business's stock in a transaction on Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total transaction of $611,302.50. Following the sale, the chief executive officer owned 11,862,457 shares in the company, valued at $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,284 shares of company stock valued at $9,444,537 in the last quarter. Company insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Sanford C. Bernstein boosted their target price on Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research report on Thursday, May 29th. Stephens decreased their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Morgan Stanley restated an "overweight" rating and issued a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Wells Fargo & Company increased their target price on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Finally, Northland Securities decreased their price target on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Performance

Shares of NYSE CRM traded down $5.74 during midday trading on Friday, reaching $258.23. The company had a trading volume of 7,004,264 shares, compared to its average volume of 6,540,561. The business's 50-day simple moving average is $272.09 and its 200 day simple moving average is $289.24. The stock has a market cap of $246.87 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.39 and a beta of 1.36. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company has a current ratio of 1.07, a quick 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 (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion during 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 quarter last year, the company posted $2.44 earnings per share. On average, analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were issued a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. Salesforce's payout ratio is currently 25.98%.

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.