Blue Zone Wealth Advisors LLC Grows Position in Salesforce, Inc. (NYSE:CRM)

Blue Zone Wealth Advisors LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 5.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,748 shares of the CRM provider’s stock after acquiring an additional 1,354 shares during the period. Salesforce makes up 1.8% of Blue Zone Wealth Advisors LLC’s investment portfolio, making the stock its 17th largest position. Blue Zone Wealth Advisors LLC’s holdings in Salesforce were worth $6,641,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CRM. Bernard Wealth Management Corp. purchased a new position in shares of Salesforce during the 4th quarter valued at about $25,000. Accredited Wealth Management LLC purchased a new position in Salesforce in the 4th quarter worth approximately $27,000. Arlington Trust Co LLC increased its stake in Salesforce by 85.1% in the 4th quarter. Arlington Trust Co LLC now owns 87 shares of the CRM provider’s stock worth $29,000 after purchasing an additional 40 shares during the period. Compass Financial Services Inc purchased a new position in Salesforce in the 4th quarter worth approximately $30,000. Finally, Asset Planning Inc purchased a new position in Salesforce in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Transactions at Salesforce

In other news, CFO Amy E. Weaver sold 6,221 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $277.37, for a total value of $1,725,518.77. Following the sale, the chief financial officer now directly owns 46,750 shares in the company, valued at approximately $12,967,047.50. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total value of $137,500.00. Following the completion of the transaction, the chief accounting officer now directly owns 11,711 shares in the company, valued at approximately $3,220,525. This trade represents a 4.09% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group cut their price objective on Salesforce from $320.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 27th. DA Davidson restated an “underperform” rating and set a $200.00 price target on shares of Salesforce in a research report on Wednesday, May 28th. Royal Bank of Canada cut Salesforce from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $420.00 to $275.00 in a research note on Thursday, May 29th. Bank of America decreased their price target on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Loop Capital decreased their price target on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Salesforce presently has an average rating of “Moderate Buy” and an average price target of $346.34.

Salesforce Price Performance

NYSE:CRM opened at $274.48 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $262.40 billion, a P/E ratio of 45.14, a P/E/G ratio of 2.58 and a beta of 1.38. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The business’s 50-day moving average is $266.57 and its 200 day moving average is $302.58.

Salesforce (NYSE:CRM) last posted its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.34% and a net margin of 15.96%. The company had revenue of $9.83 billion for the quarter, compared to the consensus estimate of $9.74 billion. During the same period in the previous year, the business earned $2.44 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts forecast that Salesforce, Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The business 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 dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

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.