BXM Wealth LLC Acquires 1,143 Shares of Salesforce Inc. (NYSE:CRM)

BXM Wealth LLC lifted its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 102.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,262 shares of the CRM provider's stock after acquiring an additional 1,143 shares during the quarter. BXM Wealth LLC's holdings in Salesforce were worth $606,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter worth $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter worth $27,000. Abound Financial LLC purchased a new position in shares of Salesforce during the first quarter worth $31,000. Wood Tarver Financial Group LLC purchased a new position in shares of Salesforce during the fourth quarter worth $35,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Salesforce during the fourth quarter worth $45,000. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CRM. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a report on Thursday, June 5th. The Goldman Sachs Group lifted their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Guggenheim raised shares of Salesforce from a "sell" rating to a "neutral" rating in a report on Monday, April 21st. Macquarie reaffirmed a "neutral" rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $370.00 price objective on shares of Salesforce in a report on Tuesday, June 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $348.16.

Salesforce Stock Down 2.2%

NYSE:CRM traded down $5.74 during mid-day trading on Friday, reaching $258.23. The stock had a trading volume of 7,004,264 shares, compared to its average volume of 6,540,561. The business's 50 day moving average is $272.09 and its 200 day moving average is $289.24. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock has a market cap of $246.87 billion, a P/E ratio of 40.41, a PEG ratio of 2.39 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter in the prior year, the company posted $2.44 earnings per share. The firm's revenue was up 7.6% on a year-over-year basis. 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 business also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given 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%.

Insider Activity

In other Salesforce news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $299,603.70. Following the completion of the sale, the insider owned 136,824 shares of the company's stock, valued at $35,895,776.40. This represents a 0.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 405 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the sale, the insider directly owned 9,933 shares of the company's stock, valued at $2,605,922.55. The trade was a 3.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,284 shares of company stock valued at $9,444,537. Insiders own 3.20% of the company's stock.

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.