Salesforce, Inc. (NYSE:CRM) Stock Position Raised by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC increased its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 23.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,273 shares of the CRM provider's stock after purchasing an additional 992 shares during the period. Patriot Financial Group Insurance Agency LLC's holdings in Salesforce were worth $1,415,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. OMC Financial Services LTD raised its stake in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock valued at $3,808,000 after acquiring an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock valued at $263,000 after acquiring an additional 31 shares in the last quarter. Prossimo Advisors LLC lifted its holdings in Salesforce by 1.0% during the 4th quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock worth $1,125,000 after buying an additional 32 shares during the last quarter. Mainstream Capital Management LLC grew its position in shares of Salesforce by 0.5% in the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after buying an additional 33 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in Salesforce by 3.9% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider's stock valued at $300,000 after buying an additional 34 shares during the last quarter. Institutional investors own 80.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on CRM shares. Westpark Capital restated a "buy" rating and issued a $320.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Piper Sandler increased their price objective on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a report on Wednesday, May 28th. Robert W. Baird dropped their price objective on shares of Salesforce from $430.00 to $400.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Stephens lowered their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Finally, Royal Bank of Canada lowered Salesforce from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $420.00 to $275.00 in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, Salesforce presently has an average rating of "Moderate Buy" and an average target price of $346.34.

Salesforce Stock Performance

Shares of NYSE:CRM traded up $0.65 during midday trading on Thursday, hitting $266.56. The company had a trading volume of 8,047,893 shares, compared to its average volume of 6,585,832. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The company has a fifty day moving average of $267.35 and a two-hundred day moving average of $301.22. The company has a market cap of $254.83 billion, a price-to-earnings ratio of 43.84, a PEG ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12-month low of $227.77 and a 12-month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce's quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.44 earnings per share. On average, equities research analysts expect that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.416 dividend. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce's payout ratio is currently 25.98%.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 705 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the sale, the insider now owns 9,323 shares of the company's stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider R David Schmaier sold 1,785 shares of the company's stock in a transaction that occurred on Wednesday, March 26th. The stock was sold at an average price of $288.34, for a total value of $514,686.90. Following the completion of the sale, the insider now owns 29,190 shares in the company, valued at approximately $8,416,644.60. This represents a 5.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is owned by insiders.

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.