Salesforce Inc. (NYSE:CRM) Shares Bought by Wayfinding Financial LLC

Wayfinding Financial LLC grew its stake in Salesforce Inc. (NYSE:CRM) by 10.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,960 shares of the CRM provider’s stock after purchasing an additional 189 shares during the period. Wayfinding Financial LLC’s holdings in Salesforce were worth $526,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new position in shares of Salesforce during the 4th quarter worth approximately $25,000. Accredited Wealth Management LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $27,000. Wood Tarver Financial Group LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $35,000. VSM Wealth Advisory LLC acquired a new position in shares of Salesforce during the 4th quarter worth approximately $45,000. Finally, Vermillion Wealth Management Inc. raised its stake in Salesforce by 138.9% in the 1st quarter. Vermillion Wealth Management Inc. now owns 172 shares of the CRM provider’s stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Stock Performance

Shares of Salesforce stock opened at $271.58 on Friday. The business has a 50-day moving average of $272.28 and a 200 day moving average of $291.78. Salesforce Inc. has a 12 month low of $230.00 and a 12 month high of $369.00. The stock has a market capitalization of $259.63 billion, a price-to-earnings ratio of 42.50, a price-to-earnings-growth ratio of 2.47 and a beta of 1.36. 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 announced its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.55 by $0.03. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The company had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. During the same period last year, the business posted $2.44 EPS. Salesforce’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The company 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. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Oppenheimer reissued an “outperform” rating and issued a $370.00 price objective on shares of Salesforce in a research note on Tuesday, June 10th. Scotiabank reduced their price objective on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $325.00 price objective on shares of Salesforce in a research note on Thursday, June 26th. Morgan Stanley reissued an “overweight” rating and issued a $404.00 price objective (up from $393.00) on shares of Salesforce in a research note on Thursday, May 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $400.00 price objective on shares of Salesforce in a research note on Wednesday, May 28th. Two research 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $349.08.

Insider Buying and Selling

In other Salesforce news, insider Miguel Milano sold 405 shares of the stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $262.35, for a total value of $106,251.75. Following the sale, the insider owned 9,933 shares of the company’s stock, valued at $2,605,922.55. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Srinivas Tallapragada sold 1,269 shares of the stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $332,922.15. Following the completion of the sale, the insider directly owned 42,678 shares in the company, valued at $11,196,573.30. This represents a 2.89% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,534 shares of company stock worth $7,609,842 over the last ninety days. Company insiders own 3.20% of the company’s stock.

Salesforce 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.