Personal CFO Solutions LLC Sells 942 Shares of Salesforce Inc. (NYSE:CRM)

Personal CFO Solutions LLC lowered its position in shares of Salesforce Inc. (NYSE:CRM) by 20.5% in the 1st quarter, HoldingsChannel reports. The firm owned 3,644 shares of the CRM provider’s stock after selling 942 shares during the quarter. Personal CFO Solutions LLC’s holdings in Salesforce were worth $978,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in shares of Salesforce in the 4th quarter valued at about $25,000. Accredited Wealth Management LLC bought a new position in Salesforce during the 4th quarter valued at approximately $27,000. Wood Tarver Financial Group LLC bought a new position in Salesforce during the 4th quarter valued at approximately $35,000. Abound Financial LLC bought a new position in Salesforce during the 1st quarter valued at approximately $31,000. Finally, VSM Wealth Advisory LLC bought a new position in Salesforce during the 4th quarter valued at approximately $45,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.3%

Shares of CRM stock opened at $270.62 on Tuesday. Salesforce Inc. has a 52-week low of $230.00 and a 52-week high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $258.71 billion, a PE ratio of 42.33, a PEG ratio of 2.47 and a beta of 1.36. The stock has a fifty day simple moving average of $272.36 and a two-hundred day simple moving average of $290.63.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to analyst estimates of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. Salesforce’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.44 EPS. On average, analysts predict that Salesforce Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders 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 0.61%. Salesforce’s payout ratio is 25.98%.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 261 shares of the business’s stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $68,473.35. Following the transaction, the chief accounting officer owned 12,024 shares of the company’s stock, valued at approximately $3,154,496.40. The trade was a 2.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Parker Harris sold 1,142 shares of the firm’s stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $299,603.70. Following the completion of the sale, the insider directly owned 136,824 shares of the company’s stock, valued at approximately $35,895,776.40. The trade was a 0.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,784 shares of company stock valued at $8,223,890 over the last ninety days. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on CRM shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $325.00 target price on shares of Salesforce in a report on Thursday, June 26th. Citigroup reduced their target price on Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a report on Friday, May 30th. Royal Bank Of Canada downgraded Salesforce from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $420.00 to $275.00 in a report on Thursday, May 29th. DA Davidson reiterated an “underperform” rating and set a $200.00 target price on shares of Salesforce in a report on Wednesday, May 28th. Finally, Erste Group Bank downgraded Salesforce from a “buy” rating to a “hold” rating in a research note on Thursday, June 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-eight have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $349.08.

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.