Regal Investment Advisors LLC cut its holdings in Salesforce, Inc. (NYSE:CRM – Free Report) by 3.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,032 shares of the CRM provider’s stock after selling 77 shares during the period. Regal Investment Advisors LLC’s holdings in Salesforce were worth $522,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. Ruedi Wealth Management Inc. increased its holdings in shares of Salesforce by 186.7% during the first quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank raised its holdings in Salesforce by 2,400.0% in the 2nd quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares in the last quarter. Red Tortoise LLC bought a new stake in shares of Salesforce during the 1st quarter valued at $33,000. Clear Investment Research LLC grew its holdings in shares of Salesforce by 816.7% during the 2nd quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock worth $28,000 after purchasing an additional 98 shares in the last quarter. Finally, Stephens Consulting LLC increased its position in shares of Salesforce by 3,125.0% in the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. 80.43% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Salesforce news, insider Parker Harris sold 2,800 shares of the 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 transaction, the insider now owns 117,581 shares in the company, valued at $28,362,888.82. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Salesforce news, insider Parker Harris sold 2,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $241.22, for a total value of $675,416.00. Following the transaction, the insider now directly owns 117,581 shares of the company’s stock, valued at $28,362,888.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Brian Millham sold 2,037 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $248.75, for a total transaction of $506,703.75. Following the sale, the chief operating officer now directly owns 1,947 shares of the company’s stock, valued at $484,316.25. The disclosure for this sale can be found here. Insiders have sold a total of 67,985 shares of company stock valued at $17,632,363 over the last ninety days. 3.20% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Check Out Our Latest Research Report on Salesforce
Salesforce Price Performance
CRM stock opened at $270.87 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. The company’s fifty day simple moving average is $256.95 and its 200 day simple moving average is $264.65. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The firm has a market cap of $262.47 billion, a price-to-earnings ratio of 48.72, a PEG ratio of 2.39 and a beta of 1.29.
Salesforce (NYSE:CRM – Get Free Report) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, beating the consensus estimate of $2.36 by $0.20. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. The company had revenue of $9.33 billion for the quarter, compared to analyst estimates of $9.22 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, analysts expect that Salesforce, Inc. will post 7.54 earnings per share for the current year.
Salesforce Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.59%. Salesforce’s payout ratio is presently 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.
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