Stratos Wealth Advisors LLC Sells 1,080 Shares of Salesforce Inc. (NYSE:CRM)

Stratos Wealth Advisors LLC lessened its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 3.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,560 shares of the CRM provider's stock after selling 1,080 shares during the quarter. Stratos Wealth Advisors LLC's holdings in Salesforce were worth $9,275,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the fourth quarter valued at $27,000. Abound Financial LLC acquired a new position in shares of Salesforce during the first quarter valued at $31,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the fourth quarter valued at $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in shares of Salesforce during the fourth quarter valued at $45,000. Institutional investors and hedge funds own 80.43% of the company's stock.

Salesforce Stock Down 2.2%

CRM stock traded down $5.74 during mid-day trading on Friday, reaching $258.23. The company had a trading volume of 7,004,264 shares, compared to its average volume of 6,540,561. 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 50 day simple moving average of $272.09 and a two-hundred day simple moving average of $289.24. The company has a market capitalization of $246.87 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 2.39 and a beta of 1.36. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last posted its quarterly 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 return on equity of 12.94% and a net margin of 16.08%. The business's revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.44 earnings per share. As a group, equities analysts predict that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Insiders Place Their Bets

In other news, 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 transaction of $1,975,615.00. Following the completion of the transaction, the insider directly owned 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider R David Schmaier sold 6,959 shares of Salesforce 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 owned 36,090 shares of the company's stock, valued at $9,141,957.90. This represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,284 shares of company stock valued at $9,444,537. 3.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CRM has been the topic of several research reports. Mizuho cut their price target on Salesforce from $425.00 to $380.00 and set an "outperform" rating on the stock in a research note on Thursday, May 15th. Stephens dropped their price objective on Salesforce from $311.00 to $309.00 and set an "equal weight" rating for the company in a report on Friday, May 30th. Needham & Company LLC reissued a "buy" rating and issued a $400.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Macquarie reissued a "neutral" rating and issued a $320.00 target price on shares of Salesforce in a research note on Thursday, March 20th. Finally, UBS Group set a $404.00 target price on Salesforce and gave the company an "overweight" rating in a research note on Wednesday, June 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, Salesforce has an average rating of "Moderate Buy" and a consensus target price of $348.16.

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.