Salesforce Inc. (NYSE:CRM) Shares Sold by Wealthstar Advisors LLC

Wealthstar Advisors LLC trimmed its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 59.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 757 shares of the CRM provider's stock after selling 1,112 shares during the quarter. Wealthstar Advisors LLC's holdings in Salesforce were worth $203,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter worth $25,000. Accredited Wealth Management LLC acquired a new stake in Salesforce in the 4th quarter valued at about $27,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce during the 4th quarter worth about $35,000. Wood Tarver Financial Group LLC acquired a new stake in shares of Salesforce during the 4th quarter worth about $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in Salesforce during the fourth quarter worth approximately $45,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,256 shares of Salesforce stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $318,157.36. Following the transaction, the chief accounting officer now directly owns 12,826 shares in the company, valued at approximately $3,248,954.06. The trade was a 8.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the completion of the transaction, the insider now owns 41,422 shares in the company, valued at $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,284 shares of company stock worth $6,996,762 over the last three months. Corporate insiders own 3.20% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays lowered their price target on Salesforce from $425.00 to $347.00 and set an "overweight" rating for the company in a research report on Thursday, May 29th. Wells Fargo & Company boosted their price target on Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research report on Thursday, May 29th. Guggenheim raised Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Jefferies Financial Group lowered their price target on Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Finally, The Goldman Sachs Group upped their target price on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have given a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Price Performance

Shares of NYSE:CRM opened at $272.72 on Friday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The business has a fifty day simple moving average of $270.38 and a 200 day simple moving average of $294.25. The firm has a market cap of $260.72 billion, a price-to-earnings ratio of 42.68, a P/E/G ratio of 2.48 and a beta of 1.38.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the company earned $2.44 earnings per share. Salesforce's quarterly revenue was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business 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 dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.61%. 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.

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