Salesforce Inc. (NYSE:CRM) Shares Sold by Wolf Group Capital Advisors

Wolf Group Capital Advisors decreased its holdings in Salesforce Inc. (NYSE:CRM) by 7.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,977 shares of the CRM provider’s stock after selling 546 shares during the quarter. Wolf Group Capital Advisors’ holdings in Salesforce were worth $1,872,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Bernard Wealth Management Corp. acquired a new position in Salesforce in the 4th quarter worth about $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the 4th quarter worth about $27,000. Halbert Hargrove Global Advisors LLC acquired a new position in Salesforce in the 4th quarter worth about $35,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce in the 4th quarter worth about $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in Salesforce in the 4th quarter worth about $45,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Activity

In other news, CEO Brian Millham sold 3,937 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $284.58, for a total value of $1,120,391.46. Following the sale, the chief executive officer now directly owns 5,518 shares in the company, valued at approximately $1,570,312.44. This trade represents a 41.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares in the company, valued at approximately $3,220,525. The trade was a 4.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,111 shares of company stock worth $9,299,283. Corporate insiders own 3.20% of the company’s stock.

Salesforce Trading Down 0.5%

CRM opened at $262.51 on Wednesday. Salesforce Inc. has a 52 week low of $229.23 and a 52 week high of $369.00. The business has a fifty day simple moving average of $268.43 and a 200-day simple moving average of $299.00. The firm has a market cap of $250.96 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.39 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14.

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, equities analysts expect 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 paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Mizuho reduced their price target on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Bank of America cut their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. BMO Capital Markets cut their price objective on Salesforce from $367.00 to $350.00 and set an “outperform” rating for the company in a research note on Tuesday, May 27th. Sanford C. Bernstein boosted their price objective on Salesforce from $243.00 to $255.00 and gave the stock an “underperform” rating in a research note on Thursday, May 29th. Finally, Cantor Fitzgerald started coverage on Salesforce in a research note on Tuesday, June 3rd. They set an “overweight” rating and a $325.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.