Caliber Wealth Management LLC KS Invests $1.88 Million in Salesforce Inc. (NYSE:CRM)

Caliber Wealth Management LLC KS bought a new position in shares of Salesforce Inc. (NYSE:CRM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,011 shares of the CRM provider’s stock, valued at approximately $1,882,000.

A number of other institutional investors and hedge funds have also modified their holdings of CRM. Norges Bank purchased a new stake in shares of Salesforce during the fourth quarter worth about $3,599,867,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Salesforce by 926.4% during the 4th quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,256,211 shares of the CRM provider’s stock valued at $1,422,979,000 after acquiring an additional 3,841,521 shares in the last quarter. GAMMA Investing LLC grew its stake in Salesforce by 30,456.9% during the 1st quarter. GAMMA Investing LLC now owns 3,801,588 shares of the CRM provider’s stock valued at $1,020,194,000 after acquiring an additional 3,789,147 shares in the last quarter. Invesco Ltd. grew its stake in Salesforce by 42.5% during the 4th quarter. Invesco Ltd. now owns 7,791,015 shares of the CRM provider’s stock valued at $2,604,770,000 after acquiring an additional 2,325,156 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Salesforce by 18.3% during the 4th quarter. Northern Trust Corp now owns 11,224,927 shares of the CRM provider’s stock valued at $3,752,830,000 after acquiring an additional 1,736,667 shares in the last quarter. Hedge funds and other institutional investors own 80.43% of the company’s stock.

Salesforce Trading Up 0.2%

Shares of Salesforce stock opened at $267.62 on Friday. Salesforce Inc. has a 1 year low of $230.00 and a 1 year high of $369.00. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market capitalization of $255.85 billion, a P/E ratio of 41.88, a PEG ratio of 2.42 and a beta of 1.36. The company’s fifty day moving average is $268.50 and its two-hundred day moving average is $284.66.

Salesforce (NYSE:CRM) last released its earnings results on Wednesday, May 28th. The CRM provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.55 by $0.03. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The company had revenue of $9.83 billion during the quarter, compared to analysts’ expectations of $9.74 billion. During the same quarter last year, the business earned $2.44 EPS. The business’s revenue was up 7.6% on a year-over-year basis. Analysts forecast that Salesforce Inc. will post 7.46 earnings per share for the current year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. This represents a $1.66 dividend on an annualized basis and a yield of 0.62%. The ex-dividend date of this dividend was Wednesday, June 18th. Salesforce’s payout ratio is currently 25.98%.

Insider Transactions at Salesforce

In other news, CEO Marc Benioff sold 2,250 shares of Salesforce stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $271.69, for a total transaction of $611,302.50. Following the completion of the sale, the chief executive officer directly owned 11,862,457 shares in the company, valued at $3,222,910,942.33. The trade was a 0.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Srinivas Tallapragada sold 6,697 shares of the business’s stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $295.00, for a total transaction of $1,975,615.00. Following the completion of the sale, the insider owned 41,422 shares of the company’s stock, valued at approximately $12,219,490. The trade was a 13.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,479 shares of company stock valued at $9,091,796. 3.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CRM has been the subject of several research reports. BMO Capital Markets dropped their price objective on shares of Salesforce from $350.00 to $335.00 and set an “outperform” rating for the company in a research note on Thursday, July 10th. Citigroup dropped their price objective on shares of Salesforce from $320.00 to $295.00 and set a “neutral” rating for the company in a research note on Friday, May 30th. Canaccord Genuity Group dropped their price objective on shares of Salesforce from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, May 28th. Sanford C. Bernstein upped their price objective on shares of Salesforce from $243.00 to $255.00 and gave the company an “underperform” rating in a research note on Thursday, May 29th. Finally, Jefferies Financial Group decreased their target price on shares of Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, Salesforce currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.16.

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.