Transform Wealth LLC Has $14.91 Million Position in Salesforce, Inc. (NYSE:CRM)

Transform Wealth LLC increased its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,565 shares of the CRM provider's stock after acquiring an additional 1,617 shares during the period. Transform Wealth LLC's holdings in Salesforce were worth $14,911,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CRM. Athena Investment Management bought a new position in Salesforce in the 4th quarter valued at $236,000. Jag Capital Management LLC grew its holdings in Salesforce by 2,507.9% during the 4th quarter. Jag Capital Management LLC now owns 23,706 shares of the CRM provider's stock worth $7,926,000 after acquiring an additional 22,797 shares during the last quarter. Atlantic Union Bankshares Corp increased its position in Salesforce by 2.7% in the 4th quarter. Atlantic Union Bankshares Corp now owns 27,358 shares of the CRM provider's stock valued at $9,146,000 after acquiring an additional 723 shares in the last quarter. Dash Acquisitions Inc. lifted its position in shares of Salesforce by 2.6% during the fourth quarter. Dash Acquisitions Inc. now owns 60,521 shares of the CRM provider's stock worth $21,785,000 after purchasing an additional 1,525 shares in the last quarter. Finally, Millstone Evans Group LLC bought a new stake in shares of Salesforce during the fourth quarter valued at approximately $823,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Up 0.5%

NYSE CRM traded up $1.31 during trading on Thursday, hitting $267.22. The stock had a trading volume of 3,949,345 shares, compared to its average volume of 6,568,416. The company has a market capitalization of $255.46 billion, a PE ratio of 43.95, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The company's 50-day moving average price is $267.35 and its two-hundred day moving average price is $301.22. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM - Get Free Report) last released its 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. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts forecast 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. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. Salesforce's dividend payout ratio is 25.98%.

Insider Transactions at Salesforce

In other news, insider Srinivas Tallapragada sold 6,697 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were 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. This represents a 13.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of Salesforce stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the transaction, the chief accounting officer now owns 11,711 shares of the company's stock, valued at $3,220,525. The trade was a 4.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,332 shares of company stock worth $11,024,802 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. DA Davidson restated an "underperform" rating and issued a $200.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. The Goldman Sachs Group boosted their target price on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of Salesforce in a research report on Wednesday, May 28th. BMO Capital Markets cut their target price on shares of Salesforce from $367.00 to $350.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 27th. Finally, Westpark Capital reissued a "buy" rating and set a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Two research 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 given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $346.34.

Salesforce 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.