Callan Capital LLC Has $515,000 Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Callan Capital LLC reduced its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 9.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fox Hill Wealth Management raised its position in Salesforce by 4.0% in the 1st quarter. Fox Hill Wealth Management now owns 985 shares of the CRM provider’s stock valued at $297,000 after buying an additional 38 shares during the last quarter. Pinnacle Wealth Planning Services Inc. lifted its position in shares of Salesforce by 0.8% during the first quarter. Pinnacle Wealth Planning Services Inc. now owns 4,946 shares of the CRM provider’s stock valued at $1,490,000 after purchasing an additional 38 shares in the last quarter. Glassman Wealth Services increased its stake in Salesforce by 2.9% in the 4th quarter. Glassman Wealth Services now owns 1,369 shares of the CRM provider’s stock valued at $360,000 after buying an additional 39 shares during the last quarter. Blue Barn Wealth LLC boosted its stake in shares of Salesforce by 1.8% in the 1st quarter. Blue Barn Wealth LLC now owns 2,207 shares of the CRM provider’s stock worth $665,000 after buying an additional 39 shares during the last quarter. Finally, Catalyst Financial Partners LLC increased its position in shares of Salesforce by 0.8% during the second quarter. Catalyst Financial Partners LLC now owns 4,876 shares of the CRM provider’s stock valued at $1,254,000 after acquiring an additional 39 shares during the last quarter. 80.43% of the stock is owned by institutional investors.

Insider Activity at Salesforce

In other Salesforce news, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $406,612.96. Following the sale, the chief operating officer now owns 1,662 shares in the company, valued at $402,735.84. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, COO Brian Millham sold 1,678 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $406,612.96. Following the completion of the transaction, the chief operating officer now owns 1,662 shares of the company’s stock, valued at approximately $402,735.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Parker Harris sold 4,200 shares of the business’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $257.04, for a total value of $1,079,568.00. Following the completion of the sale, the insider now directly owns 117,581 shares in the company, valued at $30,223,020.24. The disclosure for this sale can be found here. Insiders sold a total of 66,576 shares of company stock valued at $16,957,573 in the last three months. Company insiders own 3.20% of the company’s stock.

Salesforce Trading Up 0.2 %

Shares of CRM 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 company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm’s 50-day moving average price is $254.14 and its 200-day moving average price is $266.67. The firm 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 announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion during the quarter, compared to analyst estimates of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.63 EPS. Sell-side analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The firm also recently declared 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 is Wednesday, September 18th. This represents a $1.60 annualized dividend and a dividend yield of 0.60%. Salesforce’s payout ratio is 28.78%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Canaccord Genuity Group lifted their target price on Salesforce from $300.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Erste Group Bank reissued a “hold” rating on shares of Salesforce in a report on Wednesday, September 11th. JMP Securities reaffirmed a “market outperform” rating and set a $342.00 price target on shares of Salesforce in a research report on Wednesday, August 28th. Phillip Securities reissued an “accumulate” rating and issued a $305.00 price objective on shares of Salesforce in a report on Friday, August 30th. Finally, UBS Group raised their price objective on shares of Salesforce from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $306.00.

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.