Strategic Blueprint LLC Acquires 2,837 Shares of Salesforce Inc. (NYSE:CRM)

Strategic Blueprint LLC grew its stake in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 13.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,828 shares of the CRM provider's stock after buying an additional 2,837 shares during the quarter. Strategic Blueprint LLC's holdings in Salesforce were worth $6,394,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Wulff Hansen & CO. grew its position in Salesforce by 3.5% during the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider's stock worth $346,000 after acquiring an additional 35 shares during the last quarter. Seven Mile Advisory increased its stake in shares of Salesforce by 2.3% in the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider's stock valued at $589,000 after buying an additional 39 shares during the period. Kozak & Associates Inc. raised its holdings in Salesforce by 1.6% in the 1st quarter. Kozak & Associates Inc. now owns 2,571 shares of the CRM provider's stock valued at $654,000 after buying an additional 41 shares during the last quarter. Meridian Wealth Partners LLC boosted its position in Salesforce by 5.3% during the 4th quarter. Meridian Wealth Partners LLC now owns 834 shares of the CRM provider's stock worth $279,000 after buying an additional 42 shares during the period. Finally, Naviter Wealth LLC grew its holdings in Salesforce by 0.5% during the 1st quarter. Naviter Wealth LLC now owns 9,231 shares of the CRM provider's stock worth $2,492,000 after acquiring an additional 42 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. Cantor Fitzgerald restated an "overweight" rating and issued a $325.00 price objective on shares of Salesforce in a report on Thursday, June 26th. 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 research report on Friday, May 30th. Wells Fargo & Company lifted their price objective on Salesforce from $255.00 to $275.00 and gave the stock an "equal weight" rating in a research report on Thursday, May 29th. Mizuho dropped their price objective on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Finally, Piper Sandler raised their price objective on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 28th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $349.08.

Salesforce Trading Up 0.9%

Shares of Salesforce stock opened at $271.58 on Friday. The firm has a market cap of $259.63 billion, a PE ratio of 42.50, a P/E/G ratio of 2.44 and a beta of 1.36. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average price of $272.21 and a 200-day moving average price of $292.32.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The business 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 firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.44 earnings per share. Equities research analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 6,959 shares of the firm's stock in a transaction 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 completion of the sale, the insider directly owned 36,090 shares of the company's stock, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Sundeep G. Reddy sold 1,525 shares of the company's stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $386,831.50. Following the transaction, the chief accounting officer directly owned 12,211 shares in the company, valued at $3,097,442.26. This represents a 11.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,534 shares of company stock valued at $7,609,842 in the last quarter. 3.20% of the stock is currently owned by company 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.

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