Stratos Wealth Partners LTD. Sells 4,933 Shares of Salesforce Inc. (NYSE:CRM)

Stratos Wealth Partners LTD. lessened its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 13.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,287 shares of the CRM provider's stock after selling 4,933 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Salesforce were worth $8,665,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Liberty One Investment Management LLC grew its position in Salesforce by 1.2% in the 1st quarter. Liberty One Investment Management LLC now owns 3,165 shares of the CRM provider's stock valued at $849,000 after buying an additional 39 shares during the last quarter. Stratos Investment Management LLC grew its holdings in shares of Salesforce by 24.9% during the 1st quarter. Stratos Investment Management LLC now owns 34,393 shares of the CRM provider's stock worth $9,230,000 after purchasing an additional 6,859 shares during the period. Sierra Capital LLC boosted its holdings in Salesforce by 52.3% in the 1st quarter. Sierra Capital LLC now owns 3,639 shares of the CRM provider's stock worth $977,000 after acquiring an additional 1,249 shares during the period. Davidson Investment Advisors boosted its stake in shares of Salesforce by 2.5% during the 1st quarter. Davidson Investment Advisors now owns 85,188 shares of the CRM provider's stock valued at $22,861,000 after buying an additional 2,049 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC raised its position in shares of Salesforce by 5.9% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 1,677 shares of the CRM provider's stock valued at $450,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Insider Transactions at Salesforce

In other Salesforce news, insider Parker Harris sold 1,142 shares of the firm'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 $299,603.70. Following the sale, the insider owned 136,824 shares of the company's stock, valued at $35,895,776.40. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 261 shares of the firm'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 value of $68,473.35. Following the completion of the sale, the chief accounting officer directly owned 12,024 shares in the company, valued at $3,154,496.40. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,034 shares of company stock worth $8,833,235. Insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CRM. Macquarie reaffirmed a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research report on Thursday, March 20th. BMO Capital Markets decreased their price target on Salesforce from $367.00 to $350.00 and set an "outperform" rating for the company in a research note on Tuesday, May 27th. Stephens decreased their price target on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a research note on Friday, May 30th. Cantor Fitzgerald reissued an "overweight" rating and issued a $325.00 price target on shares of Salesforce in a research note on Thursday, June 26th. Finally, Piper Sandler increased their price target on Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Stock Performance

Shares of CRM stock traded down $2.55 during trading on Wednesday, reaching $271.10. The company had a trading volume of 6,371,001 shares, compared to its average volume of 6,542,567. The firm's 50 day simple moving average is $272.48 and its two-hundred day simple moving average is $290.51. 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 Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a market capitalization of $259.17 billion, a PE ratio of 42.43, a PEG ratio of 2.45 and a beta of 1.36.

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 for the quarter, beating 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 business had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the business earned $2.44 EPS. The firm's revenue was up 7.6% compared to the same quarter last year. Sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm also recently announced 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. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.

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.