Secured Retirement Advisors LLC Invests $1.20 Million in Salesforce Inc. (NYSE:CRM)

Secured Retirement Advisors LLC bought a new stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 4,466 shares of the CRM provider's stock, valued at approximately $1,198,000.

A number of other institutional investors also recently modified their holdings of CRM. Bernard Wealth Management Corp. bought a new stake in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at about $27,000. Abound Financial LLC acquired a new stake in shares of Salesforce in the 1st quarter valued at about $31,000. Wood Tarver Financial Group LLC bought a new stake in Salesforce in the 4th quarter valued at about $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in Salesforce during the 4th quarter worth approximately $45,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on CRM shares. BMO Capital Markets cut their price target on Salesforce from $350.00 to $335.00 and set an "outperform" rating on the stock in a report on Thursday. Stephens lowered their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research report on Friday, May 30th. UBS Group set a $404.00 price target on shares of Salesforce and gave the company an "overweight" rating in a research report on Wednesday, June 18th. Wells Fargo & Company boosted their price target on shares of Salesforce from $255.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, May 29th. Finally, Sanford C. Bernstein raised their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an "underperform" rating in a research note on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

Salesforce Stock Performance

NYSE CRM traded down $5.74 during trading hours on Friday, reaching $258.23. 7,004,264 shares of the company were exchanged, compared to its average volume of 6,547,931. The stock has a market capitalization of $246.87 billion, a P/E ratio of 40.41, a P/E/G ratio of 2.34 and a beta of 1.36. The company has a quick ratio of 1.07, a current 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's 50 day simple moving average is $272.09 and its 200-day simple moving average is $288.86.

Salesforce (NYSE:CRM - Get Free Report) last released its earnings results 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. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.44 EPS. On average, equities research analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio is currently 25.98%.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 261 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $68,473.35. Following the completion of the transaction, the chief accounting officer owned 12,024 shares in the company, valued at approximately $3,154,496.40. This represents a 2.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Miguel Milano sold 405 shares of the business'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 represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,284 shares of company stock valued at $9,444,537. 3.20% of the stock is currently owned by insiders.

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.