Advisory Alpha LLC Sells 102 Shares of Salesforce, Inc. (NYSE:CRM)

Advisory Alpha LLC cut its position in Salesforce, Inc. (NYSE:CRM) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,396 shares of the CRM provider’s stock after selling 102 shares during the quarter. Advisory Alpha LLC’s holdings in Salesforce were worth $420,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CRM. Bear Mountain Capital Inc. acquired a new position in shares of Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth $26,000. Red Tortoise LLC acquired a new position in shares of Salesforce during the 1st quarter worth $33,000. Kathleen S. Wright Associates Inc. acquired a new position in shares of Salesforce during the 4th quarter worth $31,000. Finally, BKM Wealth Management LLC bought a new stake in Salesforce during the 4th quarter worth $34,000. 80.43% of the stock is currently owned by institutional investors.

Insider Transactions at Salesforce

In other news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total value of $1,061,550.00. Following the completion of the transaction, the insider now directly owns 116,693 shares of the company’s stock, valued at $29,494,155.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.75, for a total value of $1,061,550.00. Following the sale, the insider now owns 116,693 shares in the company, valued at $29,494,155.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Brian Millham sold 2,018 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $260.00, for a total value of $524,680.00. The disclosure for this sale can be found here. Insiders sold 439,152 shares of company stock valued at $118,115,911 over the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

NYSE CRM traded up $2.86 on Friday, hitting $253.98. 861,199 shares of the stock traded hands, compared to its average volume of 6,895,370. The business’s fifty day moving average is $256.82 and its two-hundred day moving average is $275.90. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The firm has a market capitalization of $246.11 billion, a price-to-earnings ratio of 45.54, a PEG ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11.

Salesforce (NYSE:CRM) last announced its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period in the prior year, the company earned $1.15 earnings per share. Salesforce’s revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts anticipate that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s payout ratio is currently 28.78%.

Analysts Set New Price Targets

A number of research firms have commented on CRM. BMO Capital Markets reduced their price target on Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a research report on Monday, April 15th. Wedbush reduced their price target on Salesforce from $325.00 to $315.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 29th. Citigroup cut their target price on Salesforce from $323.00 to $260.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Finally, Wells Fargo & Company cut their target price on Salesforce from $300.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

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.