Salesforce, Inc. (NYSE:CRM) Shares Sold by Apollon Financial LLC

Apollon Financial LLC decreased its stake in Salesforce, Inc. (NYSE:CRM) by 14.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,127 shares of the CRM provider’s stock after selling 351 shares during the period. Apollon Financial LLC’s holdings in Salesforce were worth $547,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ruedi Wealth Management Inc. increased its holdings in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 56 shares in the last quarter. Signature Resources Capital Management LLC purchased a new position in Salesforce during the 4th quarter valued at about $26,000. Piscataqua Savings Bank increased its holdings in Salesforce by 2,400.0% during the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Red Tortoise LLC purchased a new position in Salesforce during the 1st quarter valued at about $33,000. Finally, Kathleen S. Wright Associates Inc. purchased a new position in Salesforce during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analysts Set New Price Targets

CRM has been the subject of several recent research reports. Oppenheimer dropped their target price on shares of Salesforce from $325.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Wedbush lowered their price target on shares of Salesforce from $325.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target on shares of Salesforce in a report on Friday, May 24th. Finally, Sanford C. Bernstein lifted their price target on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Salesforce has an average rating of “Moderate Buy” and a consensus target price of $291.50.

Insider Buying and Selling at Salesforce

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at $29,932,595.17. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $254.57, for a total transaction of $1,069,194.00. Following the completion of the transaction, the insider now owns 117,581 shares in the company, valued at $29,932,595.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Sundeep G. Reddy sold 413 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders sold a total of 172,136 shares of company stock worth $43,631,609 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.9 %

Shares of NYSE CRM traded up $2.42 during trading on Monday, reaching $265.33. 4,499,699 shares of the stock were exchanged, compared to its average volume of 6,601,361. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. The business’s 50-day moving average price is $249.47 and its 200 day moving average price is $272.87. The company has a market capitalization of $257.10 billion, a price-to-earnings ratio of 47.73, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve month 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 analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 earnings per share. As a group, equities analysts forecast that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Salesforce Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.60%. Salesforce’s payout ratio is 28.78%.

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.