Retirement Solution LLC Takes Position in Salesforce, Inc. (NYSE:CRM)

Retirement Solution LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,042 shares of the CRM provider’s stock, valued at approximately $280,000.

Other large investors have also bought and sold shares of the company. Tallon Kerry Patrick bought a new position in Salesforce in the 4th quarter worth approximately $236,000. Brighton Jones LLC increased its position in Salesforce by 13.7% in the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of Salesforce during the fourth quarter valued at $104,173,000. Revolve Wealth Partners LLC lifted its stake in shares of Salesforce by 12.6% during the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after acquiring an additional 205 shares during the period. Finally, Asset Planning Inc acquired a new position in shares of Salesforce during the fourth quarter valued at $31,000. Institutional investors own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the topic of several analyst reports. Stephens cut their target price on Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a research note on Friday, May 30th. Canaccord Genuity Group reduced their price target on Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Barclays cut their price objective on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a research report on Thursday, May 29th. Westpark Capital restated a “buy” rating and issued a $320.00 price target on shares of Salesforce in a research note on Wednesday, May 28th. Finally, Macquarie reiterated a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $346.34.

Salesforce Trading Down 3.2%

Shares of CRM opened at $258.25 on Friday. The stock has a market cap of $246.89 billion, a price-to-earnings ratio of 42.48, a price-to-earnings-growth ratio of 2.58 and a beta of 1.38. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1-year low of $227.77 and a 1-year high of $369.00. The firm has a 50 day simple moving average of $268.09 and a 200-day simple moving average of $299.93.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 EPS. Equities analysts forecast that Salesforce, Inc. will post 7.46 EPS for the current fiscal year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 18th will be issued a dividend of $0.416 per share. The ex-dividend date of this dividend is Wednesday, June 18th. This represents a $1.66 annualized dividend and a dividend yield of 0.64%. Salesforce’s payout ratio is 25.98%.

Insider Activity at Salesforce

In related news, insider Srinivas Tallapragada sold 6,697 shares of Salesforce 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 transaction, the insider now owns 41,422 shares in the company, valued at approximately $12,219,490. The trade was a 13.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Sundeep G. Reddy sold 500 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the transaction, the chief accounting officer now owns 11,711 shares in the company, valued at $3,220,525. This represents a 4.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 40,332 shares of company stock worth $11,024,802. 3.20% of the stock is currently owned by corporate 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.