Salesforce, Inc. (NYSE:CRM) Shares Sold by Strata Wealth Advisors LLC

Strata Wealth Advisors LLC lessened its holdings in Salesforce, Inc. (NYSE:CRM) by 24.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,237 shares of the CRM provider’s stock after selling 390 shares during the period. Strata Wealth Advisors LLC’s holdings in Salesforce were worth $318,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of CRM. Semmax Financial Advisors Inc. raised its holdings in Salesforce by 74.5% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 4,971 shares of the CRM provider’s stock valued at $1,266,000 after buying an additional 2,123 shares during the period. Distillate Capital Partners LLC acquired a new stake in shares of Salesforce during the second quarter valued at about $33,657,000. ValueAct Holdings L.P. raised its stake in shares of Salesforce by 12.3% in the 2nd quarter. ValueAct Holdings L.P. now owns 3,914,309 shares of the CRM provider’s stock valued at $1,006,369,000 after acquiring an additional 428,000 shares during the period. Mill Creek Capital Advisors LLC lifted its holdings in shares of Salesforce by 9.2% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 2,839 shares of the CRM provider’s stock worth $730,000 after acquiring an additional 240 shares during the last quarter. Finally, Samlyn Capital LLC lifted its holdings in shares of Salesforce by 67.1% in the 2nd quarter. Samlyn Capital LLC now owns 505,580 shares of the CRM provider’s stock worth $129,985,000 after acquiring an additional 202,965 shares during the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Salesforce Trading Down 1.0 %

NYSE:CRM opened at $264.21 on Tuesday. The company has a market capitalization of $256.02 billion, a PE ratio of 47.52, a P/E/G ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 52-week low of $193.68 and a 52-week high of $318.71. The stock’s 50 day moving average price is $254.37 and its 200 day moving average price is $265.91. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15.

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 analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The business had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same period last year, the firm posted $1.63 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts anticipate that Salesforce, Inc. will post 7.55 EPS for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 8th. Shareholders of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.61%. The ex-dividend date is Wednesday, September 18th. Salesforce’s dividend payout ratio is presently 28.78%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CRM. JPMorgan Chase & Co. boosted their target price on Salesforce from $300.00 to $310.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. UBS Group raised their target price on Salesforce from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Roth Mkm reiterated a “buy” rating and set a $335.00 price target on shares of Salesforce in a research note on Thursday, August 29th. Stifel Nicolaus raised their price objective on shares of Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Finally, Robert W. Baird upped their target price on shares of Salesforce from $295.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, August 29th. Eight analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $307.73.

Insider Buying and Selling at Salesforce

In related news, insider Parker Harris sold 2,800 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total transaction of $675,416.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Sundeep G. Reddy sold 413 shares of Salesforce stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the sale, the chief accounting officer now directly owns 6,431 shares in the company, valued at approximately $1,644,921.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Parker Harris sold 2,800 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $241.22, for a total value of $675,416.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $28,362,888.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,633 shares of company stock worth $18,100,349. 3.20% of the stock is currently owned by 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.