Salesforce Inc. (NYSE:CRM) Shares Purchased by Signaturefd LLC

Signaturefd LLC grew its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,941 shares of the CRM provider's stock after buying an additional 1,120 shares during the quarter. Signaturefd LLC's holdings in Salesforce were worth $5,620,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in shares of Salesforce in the 4th quarter worth approximately $27,000. Wood Tarver Financial Group LLC purchased a new position in Salesforce during the fourth quarter valued at approximately $35,000. Abound Financial LLC bought a new position in Salesforce in the first quarter worth approximately $31,000. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Salesforce in the 4th quarter valued at $45,000. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Price Performance

NYSE:CRM traded up $1.38 during trading hours on Monday, hitting $259.45. 6,529,578 shares of the stock were exchanged, compared to its average volume of 7,259,348. The firm's fifty day moving average price is $272.09 and its 200 day moving average price 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 cap of $248.03 billion, a P/E ratio of 40.60, a P/E/G ratio of 2.34 and a beta of 1.36. 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 (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate 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 return on equity of 12.94% and a net margin of 16.08%. The firm's revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.44 EPS. As a group, equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were paid a dividend of $0.416 per share. The ex-dividend date of this dividend was Wednesday, June 18th. This represents a $1.66 annualized dividend and a yield of 0.64%. Salesforce's dividend payout ratio is presently 25.98%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $299,603.70. Following the completion of the sale, the insider directly owned 136,824 shares in the company, valued at $35,895,776.40. This represents a 0.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Miguel Milano sold 405 shares of the firm's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the sale, the insider directly owned 9,933 shares of the company's stock, valued at $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,284 shares of company stock worth $9,444,537 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Westpark Capital reissued a "buy" rating and set a $320.00 target price on shares of Salesforce in a research report on Wednesday, May 28th. DA Davidson reiterated an "underperform" rating and issued a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Morgan Stanley reissued an "overweight" rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Citigroup decreased their price objective on shares of Salesforce from $320.00 to $295.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Finally, BMO Capital Markets lowered their target price on shares of Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research note on Thursday. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $348.16.

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.