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

Fiduciary Financial Group LLC lessened its stake in Salesforce, Inc. (NYSE:CRM) by 15.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,315 shares of the CRM provider’s stock after selling 801 shares during the quarter. Fiduciary Financial Group LLC’s holdings in Salesforce were worth $1,101,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. OMC Financial Services LTD grew its holdings in shares of Salesforce by 0.3% in the fourth quarter. OMC Financial Services LTD now owns 11,390 shares of the CRM provider’s stock worth $3,808,000 after purchasing an additional 31 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of Salesforce by 4.1% in the fourth quarter. Capital Advisors Ltd. LLC now owns 787 shares of the CRM provider’s stock worth $263,000 after purchasing an additional 31 shares during the last quarter. Prossimo Advisors LLC grew its holdings in shares of Salesforce by 1.0% in the fourth quarter. Prossimo Advisors LLC now owns 3,366 shares of the CRM provider’s stock worth $1,125,000 after purchasing an additional 32 shares during the last quarter. Mainstream Capital Management LLC grew its holdings 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 worth $2,143,000 after purchasing an additional 33 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC grew its stake in Salesforce by 3.9% in the fourth quarter. Warren Street Wealth Advisors LLC now owns 896 shares of the CRM provider’s stock worth $300,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Insider Activity at Salesforce

In other news, CAO Sundeep G. Reddy sold 500 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $275.00, for a total transaction of $137,500.00. Following the completion of the sale, the chief accounting officer now owns 11,711 shares of the company’s stock, valued at $3,220,525. This represents a 4.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Miguel Milano sold 705 shares of the firm’s stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $279.44, for a total transaction of $197,005.20. Following the completion of the transaction, the insider now directly owns 9,323 shares of the company’s stock, valued at approximately $2,605,219.12. This trade represents a 7.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,332 shares of company stock worth $11,024,802. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Salesforce stock opened at $272.36 on Tuesday. 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 company has a fifty day moving average price of $266.57 and a two-hundred day moving average price of $301.70. Salesforce, Inc. has a 12 month low of $227.77 and a 12 month high of $369.00. The company has a market cap of $260.38 billion, a PE ratio of 44.80, a P/E/G ratio of 2.58 and a beta of 1.38.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.55 by $0.03. The business had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 15.96% and a return on equity of 12.34%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $2.44 earnings per share. Research analysts expect that Salesforce, Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be issued a $0.416 dividend. This represents a $1.66 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date is Wednesday, June 18th. Salesforce’s dividend payout ratio (DPR) is presently 25.98%.

Analysts Set New Price Targets

CRM has been the topic of several recent research reports. Citigroup dropped their target price on Salesforce from $320.00 to $295.00 and set a “neutral” rating on the stock in a research report on Friday, May 30th. Robert W. Baird decreased their target price on Salesforce from $430.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Mizuho decreased their target price on Salesforce from $425.00 to $380.00 and set an “outperform” rating for the company in a report on Thursday, May 15th. The Goldman Sachs Group increased their price objective on shares of Salesforce from $340.00 to $385.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Guggenheim raised shares of Salesforce from a “sell” rating to a “neutral” rating in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and four have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce has a consensus rating of “Moderate Buy” and a consensus price target of $346.34.

Salesforce Company 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.