Legacy Advisors LLC Buys 226 Shares of Salesforce Inc. (NYSE:CRM)

Legacy Advisors LLC boosted its holdings in shares of Salesforce Inc. (NYSE:CRM) by 3.8% in the 1st quarter, Holdings Channel reports. The firm owned 6,106 shares of the CRM provider’s stock after buying an additional 226 shares during the period. Legacy Advisors LLC’s holdings in Salesforce were worth $1,639,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC lifted its stake in shares of Salesforce by 4.1% in the 4th quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock valued at $263,000 after acquiring an additional 31 shares during the last quarter. Mainstream Capital Management LLC raised its position in Salesforce by 0.5% during the 4th quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after purchasing an additional 33 shares during the last quarter. Pine Valley Investments Ltd Liability Co raised its position in shares of Salesforce by 0.5% in the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after acquiring an additional 35 shares in the last quarter. Wulff Hansen & CO. raised its position in shares of Salesforce by 3.5% in the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock worth $346,000 after acquiring an additional 35 shares in the last quarter. Finally, WR Wealth Planners LLC raised 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 in the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $325.00 price target on shares of Salesforce in a research note on Friday. Erste Group Bank downgraded Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Jefferies Financial Group decreased their price target on Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, March 31st. BMO Capital Markets dropped their price objective on Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 27th. Finally, Canaccord Genuity Group reduced their price objective on Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Stock Performance

CRM opened at $263.14 on Tuesday. The firm has a market cap of $251.56 billion, a P/E ratio of 41.18, a PEG ratio of 2.36 and a beta of 1.38. Salesforce Inc. has a 1-year low of $230.00 and a 1-year high of $369.00. The company has a 50 day simple moving average of $268.69 and a two-hundred day simple moving average of $296.11. 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 (NYSE:CRM) last issued its 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 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 analyst estimates of $9.74 billion. During the same quarter in the prior year, the business earned $2.44 earnings per share. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. Equities analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current fiscal 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 given a dividend of $0.416 per share. The ex-dividend date is Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is 25.98%.

Insider Buying and Selling

In related news, insider R David Schmaier sold 6,959 shares of the company’s stock in a transaction on Wednesday, April 16th. The shares were 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. This represents a 16.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Srinivas Tallapragada sold 6,697 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the sale, the insider now directly owns 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,992 shares of company stock worth $6,704,198. 3.20% of the stock is owned by insiders.

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.