Rovin Capital UT ADV Cuts Stake in Salesforce, Inc. (NYSE:CRM)

Rovin Capital UT ADV decreased its position in Salesforce, Inc. (NYSE:CRM) by 36.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,606 shares of the CRM provider’s stock after selling 933 shares during the period. Rovin Capital UT ADV’s holdings in Salesforce were worth $413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chase Investment Counsel Corp increased its position in Salesforce by 0.3% during the 4th quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the period. JFS Wealth Advisors LLC grew its holdings in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after acquiring an additional 36 shares during the period. Opes Wealth Management LLC raised its position in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after acquiring an additional 37 shares in the last quarter. Fox Hill Wealth Management lifted its holdings in Salesforce by 4.0% in the first quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after acquiring an additional 38 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. grew its stake in shares of Salesforce by 0.8% during the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock worth $1,490,000 after purchasing an additional 38 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $29,932,595.17. The sale was disclosed in a filing with the SEC, which is available at this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total value of $1,069,194.00. Following the transaction, the insider now owns 117,581 shares in the company, valued at approximately $29,932,595.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Brian Millham sold 969 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $253.63, for a total value of $245,767.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 187,136 shares of company stock valued at $47,935,109. 3.20% of the stock is currently owned by corporate insiders.

Salesforce Trading Up 0.0 %

Shares of CRM traded up $0.12 during mid-day trading on Friday, hitting $262.91. The company had a trading volume of 3,494,863 shares, compared to its average volume of 6,614,657. The stock has a market cap of $254.76 billion, a PE ratio of 47.29, a P/E/G ratio of 2.22 and a beta of 1.29. The business’s 50-day simple moving average is $249.47 and its 200-day simple moving average is $273.03. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. 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 (NYSE:CRM) last issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the company posted $1.15 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is currently 28.78%.

Analyst Ratings Changes

CRM has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $350.00 price objective on shares of Salesforce in a research note on Friday, May 24th. Macquarie decreased their price target on Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. DA Davidson dropped their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Wells Fargo & Company decreased 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. Finally, Bank of America raised their price target on Salesforce from $288.00 to $316.00 and gave the company a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Salesforce presently has a consensus rating of “Moderate Buy” and an average target price of $291.50.

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.