Salesforce, Inc. (NYSE:CRM) Position Boosted by Secure Asset Management LLC

Secure Asset Management LLC boosted its position in Salesforce, Inc. (NYSE:CRM - Free Report) by 25.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,244 shares of the CRM provider's stock after acquiring an additional 1,893 shares during the period. Secure Asset Management LLC's holdings in Salesforce were worth $2,481,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CRM. OMC Financial Services LTD lifted its stake in Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider's stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC lifted its stake in Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider's stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Prossimo Advisors LLC raised its stake in shares of Salesforce by 1.0% during the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider's stock valued at $1,125,000 after acquiring an additional 32 shares in the last quarter. Mainstream Capital Management LLC raised its stake in shares of Salesforce by 0.5% during the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider's stock valued at $2,143,000 after acquiring an additional 33 shares in the last quarter. Finally, Warren Street Wealth Advisors LLC raised its stake in shares of Salesforce by 3.9% during the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider's stock valued at $300,000 after acquiring an additional 34 shares in the last quarter. Institutional investors own 80.43% of the company's stock.

Analyst Ratings Changes

CRM has been the topic of several research reports. Barclays cut their price objective on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. Westpark Capital reissued a "buy" rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Northland Securities cut their price objective on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a report on Thursday, May 29th. Finally, Citigroup cut their price target on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating on the stock in a report on Friday, May 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $346.34.

Insiders Place Their Bets

In related news, insider Miguel Milano sold 705 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the completion of the sale, the insider now directly owns 9,323 shares in the company, valued at approximately $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business's stock in a transaction that occurred on 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 now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,332 shares of company stock worth $11,024,802. Insiders own 3.20% of the company's stock.

Salesforce Stock Up 2.7%

Shares of CRM traded up $7.34 during midday trading on Friday, reaching $274.48. The stock had a trading volume of 7,500,949 shares, compared to its average volume of 6,590,016. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The company's fifty day simple moving average is $266.57 and its two-hundred day simple moving average is $302.58. The company has a market cap of $262.40 billion, a price-to-earnings ratio of 45.14, a PEG ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The firm had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the business earned $2.44 EPS. Salesforce's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

About Salesforce

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.