Moss Adams Wealth Advisors LLC Buys 80 Shares of Salesforce, Inc. (NYSE:CRM)

Moss Adams Wealth Advisors LLC boosted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 3.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,711 shares of the CRM provider’s stock after buying an additional 80 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Salesforce were worth $728,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Salesforce during the 4th quarter worth $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in Salesforce by 926.4% during the 4th 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 in the last quarter. GAMMA Investing LLC increased its stake in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock valued at $1,020,194,000 after purchasing an additional 3,789,147 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Salesforce during the 4th quarter valued at approximately $1,173,564,000. Finally, Invesco Ltd. increased its stake in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after purchasing an additional 2,325,156 shares in the last quarter. Institutional investors own 80.43% of the company’s stock.

Insider Buying and Selling

In related news, insider Miguel Milano sold 705 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $279.44, for a total value of $197,005.20. Following the sale, the insider now directly owns 9,323 shares in the company, valued at $2,605,219.12. The trade was a 7.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 6,221 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $277.37, for a total transaction of $1,725,518.77. Following the completion of the transaction, the chief financial officer now directly owns 46,750 shares of the company’s stock, valued at $12,967,047.50. The trade was a 11.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,332 shares of company stock worth $11,024,802 over the last 90 days. 3.20% of the stock is owned by insiders.

Salesforce Price Performance

Shares of NYSE CRM opened at $274.48 on Monday. The firm has a 50-day simple moving average of $266.57 and a 200-day simple moving average of $302.19. The stock has a market capitalization of $262.40 billion, a price-to-earnings ratio of 45.14, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a 52 week low of $227.77 and a 52 week high of $369.00.

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

Salesforce Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend 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 research analysts have issued reports on CRM shares. Citigroup cut their price target on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a research note on Friday, May 30th. Needham & Company LLC restated a “buy” rating and set a $400.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Westpark Capital reaffirmed a “buy” rating and issued a $320.00 price objective on shares of Salesforce in a report on Wednesday, May 28th. Erste Group Bank downgraded shares of Salesforce from a “buy” rating to a “hold” rating in a report on Thursday. Finally, UBS Group dropped their price objective on shares of Salesforce from $320.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have given a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.34.

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.