Salesforce Inc. (NYSE:CRM) Shares Sold by MFG Wealth Management Inc.

MFG Wealth Management Inc. cut its stake in Salesforce Inc. (NYSE:CRM) by 7.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 5,816 shares of the CRM provider’s stock after selling 491 shares during the period. MFG Wealth Management Inc.’s holdings in Salesforce were worth $1,561,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC boosted its position in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after purchasing an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in Salesforce by 12.6% in the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after purchasing an additional 205 shares during the period. Pine Valley Investments Ltd Liability Co grew its position in Salesforce by 0.5% during the 4th quarter. Pine Valley Investments Ltd Liability Co now owns 7,082 shares of the CRM provider’s stock worth $2,369,000 after purchasing an additional 35 shares in the last quarter. Delta Financial Advisors LLC raised its stake in Salesforce by 52.6% during the 4th quarter. Delta Financial Advisors LLC now owns 5,906 shares of the CRM provider’s stock valued at $1,974,000 after purchasing an additional 2,035 shares during the period. Finally, FFT Wealth Management LLC lifted its holdings in shares of Salesforce by 7.6% in the fourth quarter. FFT Wealth Management LLC now owns 2,018 shares of the CRM provider’s stock valued at $675,000 after purchasing an additional 143 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Salesforce

In other news, CAO Sundeep G. Reddy sold 1,256 shares of the company’s stock in a transaction that occurred on Wednesday, April 16th. The stock was sold at an average price of $253.31, for a total transaction of $318,157.36. Following the sale, the chief accounting officer now owns 12,826 shares in the company, valued at $3,248,954.06. This represents a 8.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Oscar Munoz acquired 3,882 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average cost of $257.28 per share, with a total value of $998,760.96. Following the transaction, the director now owns 11,843 shares in the company, valued at approximately $3,046,967.04. This trade represents a 48.76% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 26,284 shares of company stock valued at $6,996,762. Corporate insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

CRM stock opened at $268.11 on Thursday. The company has a 50 day moving average price of $269.39 and a 200 day moving average price of $295.75. Salesforce Inc. has a fifty-two week low of $230.00 and a fifty-two week high of $369.00. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $256.31 billion, a PE ratio of 41.96, a price-to-earnings-growth ratio of 2.46 and a beta of 1.38.

Salesforce (NYSE:CRM) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a return on equity of 12.94% and a net margin of 16.08%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 earnings per share. Analysts forecast that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Morgan Stanley reaffirmed an “overweight” rating and set a $404.00 price objective (up from $393.00) on shares of Salesforce in a research report on Thursday, May 29th. Barclays cut their price objective on Salesforce from $425.00 to $347.00 and set an “overweight” rating for the company in a report on Thursday, May 29th. Wells Fargo & Company lifted their price target on Salesforce from $255.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, May 29th. Macquarie restated a “neutral” rating and issued a $320.00 price objective on shares of Salesforce in a report on Thursday, March 20th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $370.00 target price on shares of Salesforce in a research note on Tuesday, June 10th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-eight have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, Salesforce currently has an average rating of “Moderate Buy” and a consensus target price of $349.08.

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.