Callan Capital LLC Sells 220 Shares of Salesforce, Inc. (NYSE:CRM)

Callan Capital LLC lowered its stake in shares of Salesforce, Inc. (NYSE:CRM) by 9.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,002 shares of the CRM provider’s stock after selling 220 shares during the quarter. Callan Capital LLC’s holdings in Salesforce were worth $515,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. Ruedi Wealth Management Inc. raised its stake in Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its holdings in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the period. Clear Investment Research LLC boosted its position in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares during the last quarter. Red Tortoise LLC bought a new stake in shares of Salesforce during the 1st quarter valued at about $33,000. Finally, Stephens Consulting LLC increased its position in shares of Salesforce by 3,125.0% during the 2nd quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. 80.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on CRM shares. Roth Mkm restated a “buy” rating and set a $335.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Mizuho decreased their target price on Salesforce from $345.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. Needham & Company LLC reissued a “buy” rating and set a $345.00 price target on shares of Salesforce in a report on Friday. Piper Sandler lifted their price objective on Salesforce from $250.00 to $268.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Finally, Barclays decreased their target price on shares of Salesforce from $355.00 to $305.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $306.00.

Insiders Place Their Bets

In related news, CFO Amy E. Weaver sold 897 shares of Salesforce stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the completion of the sale, the chief financial officer now owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Parker Harris sold 4,200 shares of the firm’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $30,920,275.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the firm’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the sale, the chief financial officer now directly owns 51,109 shares in the company, valued at approximately $13,072,660.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,576 shares of company stock valued at $16,957,573. 3.20% of the stock is owned by company insiders.

Salesforce Stock Up 0.2 %

Salesforce stock opened at $266.57 on Friday. Salesforce, Inc. has a 1-year low of $193.68 and a 1-year high of $318.71. The business has a fifty day moving average price of $254.14 and a 200-day moving average price of $266.67. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market capitalization of $258.31 billion, a price-to-earnings ratio of 47.94, a PEG ratio of 2.26 and a beta of 1.29.

Salesforce (NYSE:CRM) last posted its quarterly earnings data on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $9.22 billion. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.63 earnings per share. Equities research analysts forecast that Salesforce, Inc. will post 7.55 EPS for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.60%. Salesforce’s dividend payout ratio (DPR) is 28.78%.

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.