Salesforce, Inc. (NYSE:CRM) Shares Purchased by Patriot Financial Group Insurance Agency LLC

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 23.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,273 shares of the CRM provider's stock after acquiring 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 quarter.

A number of other large investors also recently added to or reduced their stakes in CRM. OMC Financial Services LTD boosted its position in Salesforce by 0.3% during the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of 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 buying an additional 31 shares in the last quarter. Prossimo Advisors LLC raised its stake in shares of 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 boosted 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 worth $2,143,000 after buying an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC grew its stake in Salesforce by 3.9% in the 4th quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider's stock valued at $300,000 after acquiring an additional 34 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Salesforce Price Performance

CRM stock opened at $274.48 on Monday. The firm has a market cap of $262.40 billion, a P/E ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00. The stock has a 50-day simple moving average of $266.57 and a 200-day simple moving average of $302.19.

Salesforce (NYSE:CRM - Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.44 earnings per share. On average, equities analysts predict that Salesforce, Inc. will post 7.46 earnings per share 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 given 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 0.61%. Salesforce's payout ratio is currently 25.98%.

Analysts Set New Price Targets

CRM has been the subject of a number of research reports. Jefferies Financial Group cut their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Canaccord Genuity Group cut their price objective on Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Robert W. Baird reduced their target price on Salesforce from $430.00 to $400.00 and set an "outperform" rating on the stock in a research note on Thursday, February 27th. Stephens dropped their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research report on Friday, May 30th. Finally, Royal Bank of Canada cut Salesforce from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $420.00 to $275.00 in a 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 assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $346.34.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 500 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares of the company's stock, valued at approximately $3,220,525. The trade was a 4.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sold 40,332 shares of company stock worth $11,024,802 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

About Salesforce

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.

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