Westwind Capital Has $11.42 Million Holdings in Salesforce Inc. (NYSE:CRM)

Westwind Capital lifted its holdings in shares of Salesforce Inc. (NYSE:CRM) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,551 shares of the CRM provider’s stock after purchasing an additional 1,739 shares during the period. Salesforce accounts for 2.8% of Westwind Capital’s holdings, making the stock its 17th biggest holding. Westwind Capital’s holdings in Salesforce were worth $11,419,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Bernard Wealth Management Corp. acquired a new position in Salesforce in the fourth quarter valued at $25,000. Accredited Wealth Management LLC acquired a new position in Salesforce in the fourth quarter valued at $27,000. Halbert Hargrove Global Advisors LLC acquired a new position in Salesforce in the fourth quarter valued at $35,000. Wood Tarver Financial Group LLC acquired a new position in Salesforce in the fourth quarter valued at $35,000. Finally, VSM Wealth Advisory LLC acquired a new position in Salesforce in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 1,256 shares of Salesforce stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total value of $318,157.36. Following the transaction, the chief accounting officer now owns 12,826 shares in the company, 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider R David Schmaier sold 6,959 shares of Salesforce stock in a transaction on 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 owns 36,090 shares in the company, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,284 shares of company stock valued at $6,996,762. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several research reports. Westpark Capital reiterated a “buy” rating and set a $320.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Erste Group Bank lowered shares of Salesforce from a “buy” rating to a “hold” rating in a report on Thursday, June 5th. 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. BMO Capital Markets dropped their price objective on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a report on Tuesday, May 27th. Finally, Scotiabank lowered their target price on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Stock Up 0.7%

Shares of NYSE:CRM opened at $272.72 on Friday. The firm has a fifty day moving average price of $270.38 and a two-hundred day moving average price of $294.66. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. Salesforce Inc. has a one year low of $230.00 and a one year high of $369.00. The company has a market cap of $260.72 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 2.45 and a beta of 1.38.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. During the same period last year, the firm earned $2.44 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. Analysts anticipate that Salesforce Inc. will post 7.46 EPS for the current fiscal 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 issued a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio is currently 25.98%.

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.