Roman Butler Fullerton & Co. Sells 2,575 Shares of Salesforce Inc. (NYSE:CRM)

Roman Butler Fullerton & Co. decreased its position in Salesforce Inc. (NYSE:CRM) by 47.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,907 shares of the CRM provider’s stock after selling 2,575 shares during the quarter. Roman Butler Fullerton & Co.’s holdings in Salesforce were worth $741,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Salesforce

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider now directly owns 41,422 shares of the company’s stock, valued at $12,219,490. The trade was a 13.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 value of $197,005.20. Following the sale, the insider now owns 9,323 shares of the company’s stock, 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. Over the last three months, insiders sold 34,111 shares of company stock worth $9,299,283. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CRM. The Goldman Sachs Group lifted their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Jefferies Financial Group dropped their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Erste Group Bank lowered Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Piper Sandler boosted their price target on Salesforce from $315.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, May 28th. Finally, Wells Fargo & Company raised their price objective on Salesforce from $255.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have assigned a buy rating and four have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $346.34.

Salesforce Stock Down 0.5%

Shares of CRM opened at $262.51 on Wednesday. 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 has a market cap of $250.96 billion, a P/E ratio of 41.08, a price-to-earnings-growth ratio of 2.39 and a beta of 1.38. The company’s 50-day moving average price is $268.43 and its 200 day moving average price is $299.00. Salesforce Inc. has a 12-month low of $229.23 and a 12-month high of $369.00.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS 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 business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. During the same period last year, the business posted $2.44 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio is currently 25.98%.

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.