Strategic Advisors LLC Has $2.76 Million Holdings in Salesforce, Inc. (NYSE:CRM)

Strategic Advisors LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM - Free Report) by 59.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,269 shares of the CRM provider's stock after selling 15,261 shares during the period. Strategic Advisors LLC's holdings in Salesforce were worth $2,756,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Consilium Wealth Advisory LLC lifted its stake in shares of Salesforce by 2.5% in the 1st quarter. Consilium Wealth Advisory LLC now owns 3,759 shares of the CRM provider's stock valued at $1,009,000 after purchasing an additional 90 shares during the last quarter. AA Financial Advisors LLC lifted its position in Salesforce by 5.3% during the 1st quarter. AA Financial Advisors LLC now owns 6,675 shares of the CRM provider's stock worth $1,791,000 after acquiring an additional 335 shares during the last quarter. WD Rutherford LLC lifted its position in Salesforce by 0.4% during the 1st quarter. WD Rutherford LLC now owns 14,023 shares of the CRM provider's stock worth $3,575,000 after acquiring an additional 59 shares during the last quarter. Inscription Capital LLC acquired a new position in Salesforce during the 1st quarter worth $685,000. Finally, Blackston Financial Advisory Group LLC lifted its position in Salesforce by 19.8% during the 1st quarter. Blackston Financial Advisory Group LLC now owns 1,732 shares of the CRM provider's stock worth $465,000 after acquiring an additional 286 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Performance

CRM stock opened at $263.63 on Tuesday. The business's fifty day moving average is $268.49 and its 200-day moving average is $299.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market cap of $252.03 billion, a P/E ratio of 43.36, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a twelve month low of $227.77 and a twelve month high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. Salesforce's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.44 EPS. Equities research analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. Salesforce's dividend payout ratio is currently 25.98%.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of research analyst reports. Bank of America cut their target price on shares of Salesforce from $440.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Redburn Atlantic initiated coverage on shares of Salesforce in a research report on Wednesday, February 19th. They set a "buy" rating for the company. Jefferies Financial Group cut their price objective on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Canaccord Genuity Group cut their price objective on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Finally, Royal Bank of Canada lowered shares of Salesforce from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $420.00 to $275.00 in a research report on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and four have issued 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 price target of $346.34.

Insider Buying and Selling

In other news, insider R David Schmaier sold 6,959 shares of the company's stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the transaction, the insider now owns 36,090 shares of the company's stock, valued at approximately $9,141,957.90. This represents a 16.17% 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 this link. Also, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider now directly owns 41,422 shares of the company's stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,111 shares of company stock valued at $9,299,283. 3.20% of the stock is owned by insiders.

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.

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