Embree Financial Group Has $1.62 Million Stake in Salesforce Inc. (NYSE:CRM)

Embree Financial Group raised its holdings in Salesforce Inc. (NYSE:CRM) by 34.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,043 shares of the CRM provider’s stock after buying an additional 1,535 shares during the period. Embree Financial Group’s holdings in Salesforce were worth $1,622,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Salesforce in the fourth quarter valued at about $25,000. Accredited Wealth Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth approximately $27,000. Halbert Hargrove Global Advisors LLC acquired a new stake in shares of Salesforce in the 4th quarter valued at approximately $35,000. Wood Tarver Financial Group LLC bought a new position in shares of Salesforce in the fourth quarter valued at $35,000. Finally, VSM Wealth Advisory LLC bought a new stake in Salesforce during the fourth quarter worth $45,000. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CRM has been the subject of a number of analyst reports. Robert W. Baird decreased their price objective on shares of Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Sanford C. Bernstein raised their price objective on Salesforce from $243.00 to $255.00 and gave the company an “underperform” rating in a research report on Thursday, May 29th. Piper Sandler increased 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. Bank of America dropped their price objective on shares of Salesforce from $440.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $325.00 price target on shares of Salesforce in a report on Friday. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Stock Performance

Shares of CRM opened at $263.14 on Tuesday. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. 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 50 day moving average price of $268.69 and a two-hundred day moving average price of $296.11. The firm has a market capitalization of $251.56 billion, a P/E ratio of 41.18, a P/E/G ratio of 2.36 and a beta of 1.38.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the firm posted $2.44 EPS. Salesforce’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

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

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,256 shares of the firm’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the completion of the sale, the chief accounting officer now directly owns 12,826 shares of the company’s stock, valued at $3,248,954.06. This trade represents a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider R David Schmaier sold 6,959 shares of the business’s stock in a transaction dated Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $1,762,784.29. Following the completion of the transaction, the insider now directly owns 36,090 shares in the company, valued at $9,141,957.90. This trade represents a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 24,992 shares of company stock worth $6,704,198. Insiders own 3.20% of the company’s stock.

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.