Pure Financial Advisors LLC Acquires 464 Shares of Salesforce Inc. (NYSE:CRM)

Pure Financial Advisors LLC boosted its stake in shares of Salesforce Inc. (NYSE:CRM) by 33.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,833 shares of the CRM provider’s stock after purchasing an additional 464 shares during the quarter. Pure Financial Advisors LLC’s holdings in Salesforce were worth $492,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of CRM. Mainstream Capital Management LLC lifted its stake in shares of Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after buying an additional 33 shares during the period. Wulff Hansen & CO. raised its holdings in Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock valued at $346,000 after acquiring an additional 35 shares in the last quarter. WR Wealth Planners LLC lifted its position in shares of Salesforce by 9.0% in the 4th quarter. WR Wealth Planners LLC now owns 449 shares of the CRM provider’s stock worth $150,000 after acquiring an additional 37 shares during the period. Fielder Capital Group LLC grew its holdings in shares of Salesforce by 3.0% during the 4th quarter. Fielder Capital Group LLC now owns 1,289 shares of the CRM provider’s stock worth $431,000 after purchasing an additional 38 shares in the last quarter. Finally, Seven Mile Advisory increased its position in shares of Salesforce by 2.3% during the fourth quarter. Seven Mile Advisory now owns 1,762 shares of the CRM provider’s stock valued at $589,000 after purchasing an additional 39 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Salesforce news, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $295.00, for a total value of $1,975,615.00. Following the sale, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Miguel Milano sold 405 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the transaction, the insider now directly owns 9,933 shares of the company’s stock, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,284 shares of company stock worth $6,996,762. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.0%

NYSE:CRM opened at $270.50 on Friday. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The stock has a 50-day moving average price of $269.86 and a two-hundred day moving average price of $295.19. The stock has a market cap of $258.60 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.43 and a beta of 1.38. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.14.

Salesforce (NYSE:CRM) last released its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $9.74 billion. During the same quarter in the previous year, the business posted $2.44 EPS. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is presently 25.98%.

Analyst Ratings Changes

A number of research firms have weighed in on CRM. DA Davidson reiterated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Mizuho reduced their price objective on shares of Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. Jefferies Financial Group lowered their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. The Goldman Sachs Group raised their price target on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Loop Capital lowered their price objective on Salesforce from $330.00 to $300.00 and set a “hold” rating on the stock in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $349.08.

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.