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Schechter Investment Advisors LLC Sells 1,162 Shares of Salesforce Inc. (NYSE:CRM)

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Schechter Investment Advisors LLC cut its holdings in Salesforce Inc. (NYSE:CRM - Free Report) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,453 shares of the CRM provider's stock after selling 1,162 shares during the quarter. Schechter Investment Advisors LLC's holdings in Salesforce were worth $2,000,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Millstone Evans Group LLC acquired a new stake in Salesforce in the fourth quarter valued at approximately $823,000. Heartland Bank & Trust Co lifted its stake in shares of Salesforce by 117.2% in the first quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock worth $1,605,000 after buying an additional 3,227 shares during the last quarter. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Salesforce in the fourth quarter worth $5,249,000. Elwood Capital Partners LP acquired a new stake in shares of Salesforce in the fourth quarter worth $1,337,000. Finally, Strategic Blueprint LLC lifted its stake in shares of Salesforce by 13.5% in the first quarter. Strategic Blueprint LLC now owns 23,828 shares of the CRM provider's stock worth $6,394,000 after buying an additional 2,837 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CRM. BMO Capital Markets reduced their price objective on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday. Westpark Capital restated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Oppenheimer reiterated an "outperform" rating and set a $370.00 target price on shares of Salesforce in a research report on Tuesday, June 10th. The Goldman Sachs Group raised their price objective on shares of Salesforce from $340.00 to $385.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Finally, Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $348.16.

Read Our Latest Report on Salesforce

Insider Buying and Selling at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of the company's 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 transaction, the insider directly owned 41,422 shares in the company, valued at approximately $12,219,490. This represents a 13.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 1,525 shares of the company's stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $386,831.50. Following the sale, the chief accounting officer directly owned 12,211 shares of the company's stock, valued at $3,097,442.26. This represents a 11.10% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,534 shares of company stock valued at $10,028,795. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

NYSE CRM traded up $1.38 on Monday, hitting $259.45. 6,529,578 shares of the stock were exchanged, compared to its average volume of 6,547,874. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The business's fifty day moving average is $272.09 and its 200 day moving average is $288.49. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The company has a market capitalization 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 (NYSE:CRM - Get Free Report) last posted its quarterly earnings results 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 net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period in the prior year, the firm posted $2.44 earnings per share. The company's quarterly revenue was up 7.6% compared to the same quarter last year. Research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 10th. Investors 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 annualized dividend and a dividend yield of 0.64%. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Salesforce Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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