Moloney Securities Asset Management LLC Sells 4,195 Shares of Salesforce Inc. (NYSE:CRM)

Moloney Securities Asset Management LLC reduced its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 82.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 896 shares of the CRM provider's stock after selling 4,195 shares during the period. Moloney Securities Asset Management LLC's holdings in Salesforce were worth $241,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CRM. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce in the fourth quarter valued at approximately $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce during the fourth quarter worth $27,000. Abound Financial LLC acquired a new position in Salesforce during the first quarter worth $31,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce during the fourth quarter worth $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in Salesforce during the fourth quarter worth $45,000. 80.43% of the stock is owned by institutional investors.

Salesforce Stock Performance

Shares of Salesforce stock traded down $2.04 on Tuesday, hitting $257.64. The stock had a trading volume of 5,175,646 shares, compared to its average volume of 6,542,444. The stock has a market cap of $246.31 billion, a price-to-earnings ratio of 40.32, a price-to-earnings-growth ratio of 2.34 and a beta of 1.36. Salesforce Inc. has a twelve month low of $230.00 and a twelve month high of $369.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The business's 50 day moving average is $271.83 and its two-hundred day moving average is $287.94.

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, beating analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion for 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 business's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.44 EPS. Analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a $0.416 dividend. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.65%. Salesforce's dividend payout ratio is currently 25.98%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Northland Securities reduced their price objective on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Barclays dropped their price objective on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research note on Thursday, May 29th. Wells Fargo & Company lifted their price objective on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, May 29th. DA Davidson reissued an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a report on Wednesday, May 28th. Finally, Jefferies Financial Group cut their price objective on Salesforce from $425.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $348.16.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 405 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider owned 9,933 shares in the company, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Parker Harris sold 1,142 shares of the company's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $299,603.70. Following the transaction, the insider directly owned 136,824 shares in the company, valued at $35,895,776.40. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,534 shares of company stock valued at $10,028,795 over the last quarter. Corporate insiders own 3.20% of the company's stock.

Salesforce Company 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.