Wealthstar Advisors LLC Buys 74 Shares of Salesforce, Inc. (NYSE:CRM)

Wealthstar Advisors LLC lifted its stake in shares of Salesforce, Inc. (NYSE:CRM) by 6.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,192 shares of the CRM provider’s stock after acquiring an additional 74 shares during the period. Wealthstar Advisors LLC’s holdings in Salesforce were worth $359,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bear Mountain Capital Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $26,000. Signature Resources Capital Management LLC bought a new stake in shares of Salesforce during the 4th quarter worth $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce during the 4th quarter worth $31,000. Pacifica Partners Inc. lifted its holdings in shares of Salesforce by 333.3% during the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock worth $33,000 after acquiring an additional 100 shares during the last quarter. Finally, Red Tortoise LLC bought a new stake in shares of Salesforce during the 1st quarter worth $33,000. 80.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CRM. UBS Group decreased their target price on shares of Salesforce from $310.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, May 30th. Wolfe Research restated an “outperform” rating and set a $365.00 target price on shares of Salesforce in a report on Tuesday, April 16th. Morgan Stanley dropped their target price on Salesforce from $350.00 to $320.00 and set an “overweight” rating for the company in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Finally, Argus increased their target price on Salesforce from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $292.79.

Insider Activity at Salesforce

In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total transaction of $1,267,350.00. Following the completion of the transaction, the insider now owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Salesforce news, insider Parker Harris sold 4,200 shares of Salesforce stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $301.75, for a total value of $1,267,350.00. Following the completion of the sale, the insider now owns 105,837 shares of the company’s stock, valued at approximately $31,936,314.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider R David Schmaier sold 3,910 shares of Salesforce stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $274.77, for a total value of $1,074,350.70. Following the completion of the sale, the insider now directly owns 19,463 shares of the company’s stock, valued at approximately $5,347,848.51. The disclosure for this sale can be found here. Insiders sold a total of 499,152 shares of company stock valued at $136,281,661 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.9 %

Shares of CRM traded up $4.76 on Thursday, reaching $260.95. The stock had a trading volume of 4,755,729 shares, compared to its average volume of 9,006,645. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $252.86 billion, a price-to-earnings ratio of 46.93, a price-to-earnings-growth ratio of 2.25 and a beta of 1.29. The company has a 50-day simple moving average of $258.72 and a 200-day simple moving average of $276.32.

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 analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. 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 company earned $1.15 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts predict that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Dividend Announcement

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 0.61%. The ex-dividend date is Tuesday, July 9th. Salesforce’s dividend payout ratio (DPR) is presently 7.19%.

About Salesforce

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.