Salesforce Inc. (NYSE:CRM) Shares Purchased by CFM Wealth Partners LLC

CFM Wealth Partners LLC raised its holdings in Salesforce Inc. (NYSE:CRM) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,487 shares of the CRM provider’s stock after purchasing an additional 681 shares during the quarter. Salesforce comprises approximately 2.0% of CFM Wealth Partners LLC’s portfolio, making the stock its 13th largest holding. CFM Wealth Partners LLC’s holdings in Salesforce were worth $11,402,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in Salesforce during the 4th quarter valued at approximately $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Salesforce by 926.4% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after purchasing an additional 3,841,521 shares during the period. GAMMA Investing LLC raised its stake in shares of Salesforce by 30,456.9% during the first quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock worth $1,020,194,000 after purchasing an additional 3,789,147 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Salesforce during the fourth quarter worth $1,173,564,000. Finally, Invesco Ltd. grew its position in Salesforce by 42.5% in the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after buying an additional 2,325,156 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Miguel Milano sold 405 shares of the business’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the completion of the sale, the insider now directly owns 9,933 shares of the company’s stock, valued at $2,605,922.55. The trade was a 3.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total value of $1,762,784.29. Following the sale, the insider now owns 36,090 shares of the company’s stock, valued at approximately $9,141,957.90. The trade was a 16.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,284 shares of company stock valued at $6,996,762 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Salesforce Stock Performance

Shares of CRM opened at $272.72 on Friday. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company’s 50 day simple moving average is $270.38 and its 200 day simple moving average is $294.25. The company has a market capitalization of $260.72 billion, a price-to-earnings ratio of 42.68, a PEG ratio of 2.48 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07.

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

Salesforce Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders 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 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s payout ratio is 25.98%.

Analyst Ratings Changes

A number of brokerages have commented on CRM. BMO Capital Markets cut their price objective on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating for the company in a research report on Tuesday, May 27th. Macquarie reissued a “neutral” rating and set a $320.00 price target on shares of Salesforce in a report on Thursday, March 20th. Scotiabank reduced their price objective on shares of Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Morgan Stanley reiterated an “overweight” rating and set a $404.00 target price (up previously from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Finally, UBS Group set a $404.00 price target on Salesforce and gave the company an “overweight” rating in a report on Wednesday, June 18th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and an average price target of $349.08.

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.