Salesforce, Inc. (NYSE:CRM) Shares Bought by Winthrop Advisory Group LLC

Winthrop Advisory Group LLC raised its holdings in Salesforce, Inc. (NYSE:CRM) by 2.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,953 shares of the CRM provider’s stock after acquiring an additional 50 shares during the period. Winthrop Advisory Group LLC’s holdings in Salesforce were worth $589,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CRM. Graypoint LLC increased its position in Salesforce by 0.3% during the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after purchasing an additional 36 shares during the last quarter. Chase Investment Counsel Corp increased its position in Salesforce by 0.3% during the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock worth $2,730,000 after purchasing an additional 36 shares during the last quarter. JFS Wealth Advisors LLC increased its position in Salesforce by 11.4% during the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock worth $93,000 after purchasing an additional 36 shares during the last quarter. Opes Wealth Management LLC increased its position in Salesforce by 2.9% during the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock worth $341,000 after purchasing an additional 37 shares during the last quarter. Finally, Prentice Wealth Management LLC grew its stake in Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Salesforce Price Performance

CRM traded up $4.25 on Friday, reaching $257.10. The company had a trading volume of 12,619,303 shares, compared to its average volume of 11,223,949. The company has a fifty day moving average of $259.79 and a 200-day moving average of $276.34. The company has a market capitalization of $249.13 billion, a P/E ratio of 46.24, a PEG ratio of 2.26 and a beta of 1.25. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a one year low of $193.68 and a one year high of $318.71.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share for the quarter, beating 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 quarter last year, the firm posted $1.15 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Dividend Announcement

The company 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 dividend yield of 0.62%. The ex-dividend date is Tuesday, July 9th. Salesforce’s payout ratio is 7.19%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CRM shares. DA Davidson decreased their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. Citigroup decreased their target price on shares of Salesforce from $323.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, May 30th. StockNews.com downgraded shares of Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 price target on shares of Salesforce in a report on Thursday, May 30th. Finally, Morgan Stanley cut their price target on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a report on Thursday, May 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Transactions at Salesforce

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the transaction, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the business’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 $228,265.44. Following the transaction, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The disclosure for this sale can be found here. Insiders sold 547,387 shares of company stock valued at $151,174,635 over the last three months. 3.20% of the stock is owned by corporate insiders.

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.