Salesforce Inc. (NYSE:CRM) Shares Sold by Trek Financial LLC

Trek Financial LLC decreased its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 87.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,465 shares of the CRM provider's stock after selling 9,775 shares during the quarter. Trek Financial LLC's holdings in Salesforce were worth $393,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new stake in Salesforce during the 4th quarter valued at $25,000. Accredited Wealth Management LLC purchased a new position in shares of Salesforce during the fourth quarter valued at approximately $27,000. Wood Tarver Financial Group LLC purchased a new stake in Salesforce in the fourth quarter worth $35,000. Abound Financial LLC purchased a new position in shares of Salesforce during the 1st quarter worth approximately $31,000. Finally, VSM Wealth Advisory LLC bought a new position in shares of Salesforce in the 4th quarter worth about $45,000. Institutional investors own 80.43% of the company's stock.

Salesforce Stock Down 2.2%

Salesforce stock traded down $5.74 during mid-day trading on Friday, reaching $258.23. 7,004,264 shares of the company were exchanged, compared to its average volume of 6,540,561. The firm has a market cap of $246.87 billion, a P/E ratio of 40.41, a PEG ratio of 2.39 and a beta of 1.36. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 12-month low of $230.00 and a 12-month high of $369.00. The business has a fifty day moving average of $272.09 and a 200 day moving average of $289.24.

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

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on CRM. Canaccord Genuity Group dropped their target price on Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Northland Securities cut their price objective on shares of Salesforce from $423.00 to $396.00 and set an "outperform" rating for the company in a report on Thursday, May 29th. Barclays reduced their price target on shares of Salesforce from $425.00 to $347.00 and set an "overweight" rating on the stock in a report on Thursday, May 29th. BMO Capital Markets cut their price objective on Salesforce from $350.00 to $335.00 and set an "outperform" rating for the company in a research report on Thursday. Finally, 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. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the company. According to data from MarketBeat.com, Salesforce currently has an average rating of "Moderate Buy" and a consensus target price of $348.16.

Insiders Place Their Bets

In other news, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the sale, the insider directly owned 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc Benioff sold 2,250 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $272.48, for a total value of $613,080.00. Following the completion of the transaction, the chief executive officer directly owned 11,862,457 shares in the company, valued at approximately $3,232,282,283.36. The trade was a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,284 shares of company stock valued at $9,444,537. 3.20% of the stock is currently owned by corporate 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.