Unique Wealth LLC Has $2.66 Million Position in Salesforce, Inc. (NYSE:CRM)

Unique Wealth LLC boosted its holdings in shares of Salesforce, Inc. (NYSE:CRM - Free Report) by 26.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,922 shares of the CRM provider's stock after purchasing an additional 2,083 shares during the period. Unique Wealth LLC's holdings in Salesforce were worth $2,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick bought a new position in Salesforce during the 4th quarter worth $236,000. Brighton Jones LLC grew its stake in shares of Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider's stock valued at $8,582,000 after buying an additional 3,102 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in shares of Salesforce in the 4th quarter valued at about $104,173,000. Revolve Wealth Partners LLC grew its stake in shares of Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider's stock valued at $611,000 after buying an additional 205 shares during the period. Finally, Lion Street Advisors LLC acquired a new position in Salesforce during the 4th quarter valued at about $209,000. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Canaccord Genuity Group dropped their target price on shares of Salesforce from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, May 28th. Westpark Capital reiterated a "buy" rating and issued a $320.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Guggenheim upgraded shares of Salesforce from a "sell" rating to a "neutral" rating in a research note on Monday, April 21st. DA Davidson restated an "underperform" rating and set a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Finally, Stifel Nicolaus cut their target price on shares of Salesforce from $425.00 to $375.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Salesforce presently has a consensus rating of "Moderate Buy" and a consensus price target of $346.34.

Insider Activity

In other news, CAO Sundeep G. Reddy sold 1,909 shares of the stock in a transaction that occurred on Monday, March 24th. The shares were sold at an average price of $284.58, for a total transaction of $543,263.22. Following the sale, the chief accounting officer now owns 11,310 shares in the company, valued at $3,218,599.80. This represents a 14.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Miguel Milano sold 705 shares of the stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the sale, the insider now owns 9,323 shares in the company, valued at approximately $2,605,219.12. The trade was a 7.03% 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 over the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $266.81 on Friday. The stock has a market capitalization of $255.07 billion, a P/E ratio of 43.88, a P/E/G ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $227.77 and a 1 year high of $369.00. The company's 50-day moving average is $266.48 and its 200 day moving average is $302.92.

Salesforce (NYSE:CRM - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, topping analysts' consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion for the quarter, compared to analysts' expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business's revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.44 earnings per share. On average, sell-side analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders 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 dividend yield of 0.62%. Salesforce's payout ratio is 25.98%.

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.

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