180 Wealth Advisors LLC Buys 70 Shares of Salesforce, Inc. (NYSE:CRM)

180 Wealth Advisors LLC grew its position in shares of Salesforce, Inc. (NYSE:CRM) by 0.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,528 shares of the CRM provider’s stock after acquiring an additional 70 shares during the quarter. 180 Wealth Advisors LLC’s holdings in Salesforce were worth $3,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CRM. Bear Mountain Capital Inc. purchased a new stake in shares of Salesforce during the 4th quarter valued at $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce in the fourth quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new position in Salesforce in the fourth quarter valued at about $31,000. Pacifica Partners Inc. grew its position in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth approximately $34,000. Institutional investors own 80.43% of the company’s stock.

Salesforce Stock Up 2.6 %

CRM stock traded up $6.66 during midday trading on Friday, hitting $259.51. The stock had a trading volume of 3,558,557 shares, compared to its average volume of 6,912,988. The business has a 50-day moving average of $260.43 and a two-hundred day moving average of $276.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $251.47 billion, a price-to-earnings ratio of 46.43, a price-to-earnings-growth ratio of 2.13 and a beta of 1.25. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71.

Salesforce (NYSE:CRM) last issued its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.06. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The company had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. During the same period last year, the business earned $1.15 EPS. Salesforce’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, equities research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is 7.19%.

Wall Street Analysts Forecast Growth

CRM has been the subject of several research reports. Argus increased their price objective on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Robert W. Baird decreased their price objective on Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. KeyCorp began coverage on Salesforce in a research note on Thursday, March 21st. They issued a “sector weight” rating on the stock. TD Cowen cut their target price on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Finally, Morgan Stanley lowered their price target on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

Insider Transactions at Salesforce

In related news, COO Brian Millham sold 1,678 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the sale, the chief operating officer now owns 1,662 shares of the company’s stock, valued at $402,735.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Srinivas Tallapragada sold 942 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now owns 22,154 shares in the company, valued at $5,368,357.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Brian Millham sold 1,678 shares of Salesforce stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the sale, the chief operating officer now directly owns 1,662 shares of the company’s stock, valued at approximately $402,735.84. The disclosure for this sale can be found here. Over the last three months, insiders have sold 541,787 shares of company stock valued at $149,773,683. 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.