Wealthfront Advisers LLC Raises Stock Holdings in Salesforce Inc. (NYSE:CRM)

Wealthfront Advisers LLC lifted its position in shares of Salesforce Inc. (NYSE:CRM - Free Report) by 5.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,221 shares of the CRM provider's stock after buying an additional 5,697 shares during the period. Wealthfront Advisers LLC's holdings in Salesforce were worth $28,505,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Millstone Evans Group LLC purchased a new position in shares of Salesforce during the 4th quarter valued at about $823,000. Heartland Bank & Trust Co increased its stake in Salesforce by 117.2% in the 1st quarter. Heartland Bank & Trust Co now owns 5,981 shares of the CRM provider's stock worth $1,605,000 after purchasing an additional 3,227 shares during the period. Elwood Capital Partners LP purchased a new position in Salesforce in the 4th quarter worth approximately $1,337,000. Strategic Blueprint LLC increased its stake in Salesforce by 13.5% in the 1st quarter. Strategic Blueprint LLC now owns 23,828 shares of the CRM provider's stock worth $6,394,000 after purchasing an additional 2,837 shares during the period. Finally, Bestgate Wealth Advisors LLC purchased a new position in Salesforce in the 4th quarter worth approximately $441,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. The Goldman Sachs Group lifted their price target on Salesforce from $340.00 to $385.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Mizuho decreased 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. Northland Securities decreased their price target on Salesforce from $423.00 to $396.00 and set an "outperform" rating on the stock in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and set a $404.00 target price (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Finally, Stephens reduced their target price on Salesforce from $311.00 to $309.00 and set an "equal weight" rating on the stock in a research note on Friday, May 30th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $348.16.

Salesforce Stock Up 0.1%

Shares of CRM stock traded up $0.26 during mid-day trading on Wednesday, hitting $257.84. The company's stock had a trading volume of 5,646,683 shares, compared to its average volume of 6,554,540. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The business has a 50-day moving average price of $271.11 and a 200 day moving average price of $287.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $246.49 billion, a price-to-earnings ratio of 40.35, a PEG ratio of 2.33 and a beta of 1.36.

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, topping the consensus estimate of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm had revenue of $9.83 billion during the quarter, compared to analysts' expectations of $9.74 billion. During the same quarter in the previous year, the business earned $2.44 earnings per share. The company's revenue was up 7.6% on a year-over-year basis. Research analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 10th. Investors of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date was Wednesday, June 18th. Salesforce's dividend payout ratio (DPR) is presently 25.98%.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 1,142 shares of the company's stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $299,603.70. Following the completion of the sale, the insider owned 136,824 shares in the company, valued at approximately $35,895,776.40. This represents a 0.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 261 shares of the company's stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $68,473.35. Following the sale, the chief accounting officer owned 12,024 shares of the company's stock, valued at approximately $3,154,496.40. This trade represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,569 shares of company stock valued at $8,533,528 in the last 90 days. 3.20% of the stock is owned by company insiders.

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.