Diversified Trust Co Sells 896 Shares of Salesforce, Inc. (NYSE:CRM)

Diversified Trust Co cut its position in shares of Salesforce, Inc. (NYSE:CRM) by 8.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,175 shares of the CRM provider’s stock after selling 896 shares during the period. Diversified Trust Co’s holdings in Salesforce were worth $3,065,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CRM. Bear Mountain Capital Inc. bought a new stake in Salesforce during the 4th quarter valued at $26,000. Signature Resources Capital Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at $26,000. Kathleen S. Wright Associates Inc. purchased a new position in shares of Salesforce in the 4th quarter valued at $31,000. Pacifica Partners Inc. increased its holdings in shares of Salesforce by 333.3% in the 4th quarter. Pacifica Partners Inc. now owns 130 shares of the CRM provider’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Finally, BKM Wealth Management LLC purchased a new position in shares of Salesforce in the 4th quarter valued at $34,000. 80.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Canaccord Genuity Group cut their price target on Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, May 30th. JMP Securities reiterated a “market outperform” rating and issued a $342.00 price target on shares of Salesforce in a report on Monday, April 15th. StockNews.com downgraded Salesforce from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 19th. KeyCorp started coverage on Salesforce in a research note on Thursday, March 21st. They set a “sector weight” rating on the stock. Finally, Oppenheimer dropped their target price on Salesforce from $325.00 to $280.00 and set an “outperform” rating on the stock in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Price Performance

CRM stock opened at $256.14 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $259.79 and a 200-day simple moving average of $276.47. The firm has a market capitalization of $248.20 billion, a PE ratio of 46.07, a price-to-earnings-growth ratio of 2.26 and a beta of 1.25. 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 results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to analyst estimates of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.15 earnings per share. Equities research analysts anticipate that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Investors of record on Tuesday, July 9th will be given a $0.40 dividend. The ex-dividend date is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s payout ratio is 28.78%.

Insider Buying and Selling

In related news, CAO Sundeep G. Reddy sold 2,425 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $273.15, for a total value 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 $1,599,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction 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 transaction, the chief accounting officer now directly owns 5,856 shares in the company, valued at $1,599,566.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $300.14, for a total value of $4,502,100.00. Following the transaction, the chief executive officer now owns 12,951,166 shares in the company, valued at $3,887,162,963.24. The disclosure for this sale can be found here. Over the last three months, insiders sold 509,952 shares of company stock worth $139,786,753. Company insiders own 3.20% of the company’s stock.

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.