Salesforce, Inc. (NYSE:CRM) Shares Sold by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 24.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 20,650 shares of the CRM provider’s stock after selling 6,514 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Salesforce were worth $6,219,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Graypoint LLC grew its position in Salesforce by 0.3% in the fourth quarter. Graypoint LLC now owns 10,504 shares of the CRM provider’s stock valued at $2,764,000 after acquiring an additional 36 shares in the last quarter. Chase Investment Counsel Corp grew its position in Salesforce by 0.3% in the fourth quarter. Chase Investment Counsel Corp now owns 10,377 shares of the CRM provider’s stock valued at $2,730,000 after acquiring an additional 36 shares in the last quarter. JFS Wealth Advisors LLC grew its position in Salesforce by 11.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 353 shares of the CRM provider’s stock valued at $93,000 after acquiring an additional 36 shares in the last quarter. Opes Wealth Management LLC grew its position in Salesforce by 2.9% in the fourth quarter. Opes Wealth Management LLC now owns 1,295 shares of the CRM provider’s stock valued at $341,000 after acquiring an additional 37 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its position in shares of Salesforce by 1.7% during the fourth quarter. Prentice Wealth Management LLC now owns 2,294 shares of the CRM provider’s stock worth $604,000 after buying an additional 38 shares in the last quarter. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Ratings Changes

CRM has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, May 30th. JPMorgan Chase & Co. reduced their price objective on Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, May 30th. JMP Securities restated a “market outperform” rating and set a $342.00 price objective on shares of Salesforce in a research note on Monday, April 15th. Needham & Company LLC restated a “buy” rating and set a $345.00 price objective on shares of Salesforce in a research note on Thursday, May 30th. Finally, DA Davidson reduced their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, May 30th. 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Salesforce Price Performance

Shares of CRM stock opened at $241.80 on Wednesday. The stock’s fifty day moving average is $261.10 and its 200-day moving average is $276.56. The stock has a market capitalization of $234.30 billion, a PE ratio of 43.49, a PEG ratio of 2.11 and a beta of 1.25. Salesforce, Inc. has a 52 week low of $193.68 and a 52 week 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.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion for the quarter, compared to analysts’ expectations of $9.15 billion. During the same quarter last year, the business earned $1.15 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts expect that Salesforce, Inc. will post 7.47 EPS for the current fiscal year.

Insider Transactions at Salesforce

In other news, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total transaction of $662,388.75. Following the completion of the transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Brian Millham sold 1,678 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total value of $406,612.96. Following the completion of the sale, the chief operating officer now directly owns 1,662 shares in the company, valued at approximately $402,735.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Sundeep G. Reddy sold 2,425 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now owns 5,856 shares of the company’s stock, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold a total of 541,787 shares of company stock valued at $149,773,683 over the last 90 days. 3.20% of the stock is owned by company insiders.

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.