Sheaff Brock Investment Advisors LLC increased its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,866 shares of the CRM provider's stock after purchasing an additional 1,387 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Salesforce were worth $6,673,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the 4th quarter worth about $35,000. Capital A Wealth Management LLC boosted its position in shares of Salesforce by 450.0% in the 1st quarter. Capital A Wealth Management LLC now owns 110 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 90 shares during the period. Finally, CBIZ Investment Advisory Services LLC boosted its position in shares of Salesforce by 314.8% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 112 shares of the CRM provider's stock valued at $30,000 after purchasing an additional 85 shares during the period. 80.43% of the stock is owned by institutional investors and hedge funds.
Salesforce Trading Down 1.9%
Shares of CRM stock traded down $5.02 during mid-day trading on Thursday, hitting $259.79. 3,103,907 shares of the company's stock were exchanged, compared to its average volume of 7,067,692. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The stock has a 50-day simple moving average of $266.97 and a two-hundred day simple moving average of $283.11. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The stock has a market cap of $248.36 billion, a price-to-earnings ratio of 40.67, a PEG ratio of 2.43 and a beta of 1.36.
Salesforce (NYSE:CRM - Get Free Report) last issued its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The business's quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the company posted $2.44 EPS. Equities analysts expect that Salesforce Inc. will post 7.46 EPS for the current fiscal year.
Salesforce Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is currently 25.98%.
Insider Buying and Selling at Salesforce
In other Salesforce news, CEO Marc Benioff sold 2,250 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $271.69, for a total value of $611,302.50. Following the transaction, the chief executive officer directly owned 11,862,457 shares of the company's stock, valued at $3,222,910,942.33. This trade represents a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the firm'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 completion of the transaction, the insider directly owned 41,422 shares in the company, valued at $12,219,490. This trade represents a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,979 shares of company stock worth $10,303,399 over the last ninety days. Corporate insiders own 3.20% of the company's stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Cantor Fitzgerald cut Salesforce from an "overweight" rating to a "cautious" rating in a research report on Thursday, July 10th. BMO Capital Markets decreased their target price on Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research report on Thursday, July 10th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 target price (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Erste Group Bank cut Salesforce from a "buy" rating to a "hold" rating in a research report on Thursday, June 5th. Finally, Northland Securities decreased their target price on Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a research report on Thursday, May 29th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $348.16.
View Our Latest Stock Analysis on CRM
Salesforce Profile
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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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