Symphony Financial Ltd. Co. Has $1.03 Million Stake in Salesforce Inc. (NYSE:CRM)

Symphony Financial Ltd. Co. decreased its holdings in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 75.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,848 shares of the CRM provider's stock after selling 11,930 shares during the quarter. Symphony Financial Ltd. Co.'s holdings in Salesforce were worth $1,033,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Lazari Capital Management Inc. lifted its stake in Salesforce by 2.1% in the first quarter. Lazari Capital Management Inc. now owns 5,623 shares of the CRM provider's stock valued at $1,509,000 after acquiring an additional 117 shares during the last quarter. Legacy Advisors LLC lifted its stake in Salesforce by 3.8% in the first quarter. Legacy Advisors LLC now owns 6,106 shares of the CRM provider's stock valued at $1,639,000 after acquiring an additional 226 shares during the last quarter. Gallagher Capital Advisors LLC lifted its stake in Salesforce by 2.3% in the first quarter. Gallagher Capital Advisors LLC now owns 4,753 shares of the CRM provider's stock valued at $1,275,000 after acquiring an additional 106 shares during the last quarter. AssuredPartners Investment Advisors LLC lifted its stake in Salesforce by 2.8% in the first quarter. AssuredPartners Investment Advisors LLC now owns 2,331 shares of the CRM provider's stock valued at $625,000 after acquiring an additional 63 shares during the last quarter. Finally, Asset Management One Co. Ltd. lifted its stake in Salesforce by 5.6% in the first quarter. Asset Management One Co. Ltd. now owns 519,347 shares of the CRM provider's stock valued at $139,372,000 after acquiring an additional 27,310 shares during the last quarter. Institutional investors and hedge funds own 80.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CRM shares. Piper Sandler raised their target price on shares of Salesforce from $315.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 28th. The Goldman Sachs Group raised their target price on shares of Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Mizuho cut their target price on shares of Salesforce from $425.00 to $380.00 and set an "outperform" rating for the company in a research note on Thursday, May 15th. Needham & Company LLC restated a "buy" rating and set a $400.00 target price on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Sanford C. Bernstein raised their target price on shares of Salesforce from $243.00 to $255.00 and gave the stock an "underperform" rating in a research note on Thursday, May 29th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $349.08.

Insiders Place Their Bets

In other Salesforce news, insider R David Schmaier sold 1,785 shares of the business's stock in a transaction that occurred on Wednesday, March 26th. The shares were sold at an average price of $288.34, for a total transaction of $514,686.90. Following the sale, the insider now directly owns 29,190 shares of the company's stock, valued at $8,416,644.60. The trade was a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Miguel Milano sold 705 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $279.44, for a total transaction of $197,005.20. Following the sale, the insider now directly owns 9,323 shares in the company, valued at $2,605,219.12. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,992 shares of company stock valued at $6,704,198 in the last ninety days. 3.20% of the stock is currently owned by insiders.

Salesforce Trading Up 1.0%

Shares of Salesforce stock opened at $263.14 on Tuesday. The firm has a market capitalization of $251.56 billion, a PE ratio of 41.18, a price-to-earnings-growth ratio of 2.36 and a beta of 1.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14. The firm's 50 day moving average is $268.69 and its 200 day moving average is $296.11. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion for the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm's revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $2.44 EPS. Equities research analysts forecast 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 will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce's payout ratio is 25.98%.

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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