MCF Advisors LLC Sells 55 Shares of Salesforce, Inc. (NYSE:CRM)

MCF Advisors LLC lessened its position in Salesforce, Inc. (NYSE:CRM) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111 shares of the CRM provider’s stock after selling 55 shares during the quarter. MCF Advisors LLC’s holdings in Salesforce were worth $33,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Graypoint LLC raised its holdings in Salesforce by 0.3% in the 4th quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock worth $2,764,000 after acquiring an additional 36 shares during the period. Chase Investment Counsel Corp increased its holdings in shares of Salesforce by 0.3% during the 4th 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 period. JFS Wealth Advisors LLC increased its holdings in shares of Salesforce by 11.4% during the 4th 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 period. Opes Wealth Management LLC increased its holdings in shares of Salesforce by 2.9% during the 4th 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 period. Finally, Prentice Wealth Management LLC increased its holdings in shares of Salesforce by 1.7% during the 4th quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after purchasing an additional 38 shares during the period. Institutional investors own 80.43% of the company’s stock.

Salesforce Price Performance

Shares of NYSE:CRM traded up $4.25 during midday trading on Friday, hitting $257.10. The stock had a trading volume of 12,619,303 shares, compared to its average volume of 11,223,949. The company’s 50-day moving average price is $259.79 and its 200-day moving average price is $276.20. The company has a market capitalization of $249.13 billion, a P/E ratio of 46.24, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.14. Salesforce, Inc. has a fifty-two week low of $193.68 and a fifty-two week high of $318.71.

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

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend is Tuesday, July 9th. Salesforce’s dividend payout ratio is 7.19%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the sale, the insider now directly owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Salesforce news, 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 sale, the insider now directly owns 22,154 shares of the company’s stock, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction on Tuesday, April 9th. The shares were sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the completion of the sale, the insider now directly owns 105,837 shares in the company, valued at $31,936,314.75. The disclosure for this sale can be found here. Insiders sold a total of 547,387 shares of company stock worth $151,174,635 in the last three months. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRM shares. DA Davidson dropped their price objective on shares of Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. TD Cowen dropped their price objective on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating on the stock in a report on Thursday, May 30th. UBS Group dropped their price objective on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, May 30th. Evercore ISI lowered their target price on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. Finally, Wolfe Research reissued an “outperform” rating and issued a $365.00 target price on shares of Salesforce in a research note on Tuesday, April 16th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $292.79.

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.