Wealth Effects LLC Purchases 125 Shares of Salesforce Inc. (NYSE:CRM)

Wealth Effects LLC increased its position in Salesforce Inc. (NYSE:CRM) by 13.4% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,055 shares of the CRM provider’s stock after purchasing an additional 125 shares during the period. Wealth Effects LLC’s holdings in Salesforce were worth $283,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mainstream Capital Management LLC increased its position in shares of Salesforce by 0.5% in the fourth quarter. Mainstream Capital Management LLC now owns 6,409 shares of the CRM provider’s stock valued at $2,143,000 after acquiring an additional 33 shares during the period. Pine Valley Investments Ltd Liability Co grew its stake in shares of Salesforce by 0.5% in the fourth quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after purchasing an additional 35 shares during the last quarter. Wulff Hansen & CO. increased its holdings in Salesforce by 3.5% during the 4th quarter. Wulff Hansen & CO. now owns 1,035 shares of the CRM provider’s stock valued at $346,000 after purchasing an additional 35 shares during the period. WR Wealth Planners LLC raised its position in Salesforce by 9.0% during the 4th quarter. WR Wealth Planners LLC now owns 449 shares of the CRM provider’s stock valued at $150,000 after purchasing an additional 37 shares during the last quarter. Finally, Fielder Capital Group LLC lifted its holdings in Salesforce by 3.0% in the 4th quarter. Fielder Capital Group LLC now owns 1,289 shares of the CRM provider’s stock worth $431,000 after buying an additional 38 shares during the period. 80.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CRM shares. Scotiabank reduced their target price on Salesforce from $400.00 to $345.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Macquarie reissued a “neutral” rating and set a $320.00 price objective on shares of Salesforce in a research report on Thursday, March 20th. Stifel Nicolaus decreased their price objective on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Oppenheimer reaffirmed an “outperform” rating and set a $370.00 target price on shares of Salesforce in a research note on Tuesday, June 10th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $325.00 price target on shares of Salesforce in a research report on Friday, June 20th. Two 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $349.08.

Salesforce Trading Down 1.1%

NYSE:CRM opened at $268.11 on Thursday. The stock has a market cap of $256.31 billion, a price-to-earnings ratio of 41.96, a PEG ratio of 2.46 and a beta of 1.38. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.14. The company’s 50 day moving average price is $269.39 and its 200-day moving average price is $295.75. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00.

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

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be given a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is 25.98%.

Insider Activity

In other Salesforce news, CAO Sundeep G. Reddy sold 1,256 shares of the business’s stock in a transaction on Wednesday, April 16th. The shares were sold at an average price of $253.31, for a total transaction of $318,157.36. Following the completion of the sale, the chief accounting officer now directly owns 12,826 shares in the company, valued at approximately $3,248,954.06. The trade was a 8.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Millham sold 979 shares of the stock in a transaction on Wednesday, April 23rd. The shares were sold at an average price of $253.66, for a total value of $248,333.14. Following the transaction, the chief executive officer now directly owns 6,487 shares in the company, valued at $1,645,492.42. The trade was a 13.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,284 shares of company stock valued at $6,996,762 in the last 90 days. 3.20% of the stock is currently owned by 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.