Register Financial Advisors LLC Buys New Shares in Salesforce, Inc. (NYSE:CRM)

Register Financial Advisors LLC bought a new stake in Salesforce, Inc. (NYSE:CRM) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 637 shares of the CRM provider’s stock, valued at approximately $192,000.

Several other hedge funds have also recently made changes to their positions in CRM. Bear Mountain Capital Inc. purchased a new stake in Salesforce in the fourth quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $26,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Salesforce during the 4th quarter worth about $31,000. Pacifica Partners Inc. boosted its stake 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 in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Salesforce during the 4th quarter worth about $34,000. 80.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Salesforce

In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, April 1st. The shares were sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the completion of the sale, the chief executive officer now directly owns 13,011,166 shares of the company’s stock, valued at approximately $3,925,729,005.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director G Mason Morfit purchased 428,000 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were purchased at an average cost of $233.17 per share, for a total transaction of $99,796,760.00. Following the purchase, the director now directly owns 3,914,309 shares of the company’s stock, valued at $912,699,429.53. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction on Monday, April 1st. The stock was sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the sale, the chief executive officer now owns 13,011,166 shares in the company, valued at $3,925,729,005.52. The disclosure for this sale can be found here. Insiders sold 547,387 shares of company stock valued at $151,174,635 in the last 90 days. Company insiders own 3.20% of the company’s stock.

Salesforce Stock Up 1.7 %

Shares of NYSE CRM opened at $257.10 on Friday. The company has a 50 day simple moving average of $259.79 and a 200-day simple moving average of $276.20. The company has a market capitalization of $249.13 billion, a P/E ratio of 46.24, a P/E/G ratio of 2.13 and a beta of 1.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. Salesforce, Inc. has a 1 year low of $193.68 and a 1 year high of $318.71.

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, topping analysts’ consensus estimates of $2.38 by $0.06. The firm 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $1.15 EPS. On average, equities research analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio is presently 7.19%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Macquarie lowered their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a research note on Friday, May 31st. Wolfe Research restated an “outperform” rating and set a $365.00 price target on shares of Salesforce in a research report on Tuesday, April 16th. TD Cowen reduced their price target on shares of Salesforce from $330.00 to $285.00 and set a “hold” rating for the company in a research report on Thursday, May 30th. Barclays reduced their price target on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating for the company in a research report on Thursday, May 30th. Finally, KeyCorp assumed coverage on shares of Salesforce in a research report on Thursday, March 21st. They set a “sector weight” rating for the company. One investment 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $292.79.

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.