Salesforce Inc. (NYSE:CRM) Shares Sold by Leo Wealth LLC

Leo Wealth LLC decreased its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 85.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 824 shares of the CRM provider's stock after selling 4,881 shares during the period. Leo Wealth LLC's holdings in Salesforce were worth $221,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $27,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $35,000. Abound Financial LLC purchased a new stake in shares of Salesforce in the 1st quarter valued at approximately $31,000. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Salesforce in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Trading Up 0.5%

NYSE CRM opened at $259.45 on Tuesday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $248.03 billion, a PE ratio of 40.60, a P/E/G ratio of 2.34 and a beta of 1.36. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The firm's fifty day moving average is $271.83 and its two-hundred day moving average is $287.94.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts' consensus estimates of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. Salesforce's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 earnings per share. Analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

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

Analysts Set New Price Targets

CRM has been the subject of several analyst reports. Erste Group Bank cut shares of Salesforce from a "buy" rating to a "hold" rating in a research note on Thursday, June 5th. Sanford C. Bernstein increased their price target on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Royal Bank Of Canada reissued a "sector perform" rating and issued a $275.00 price target on shares of Salesforce in a research note on Monday. Scotiabank lowered their price objective on shares of Salesforce from $400.00 to $345.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $370.00 price objective on shares of Salesforce in a research report on Tuesday, June 10th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Insider Buying and Selling at Salesforce

In other news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider owned 41,422 shares of the company's stock, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction dated 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 completion of the sale, the insider directly owned 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,534 shares of company stock valued at $10,028,795. Company 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.

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