RHS Financial LLC Acquires Shares of 808 Salesforce, Inc. (NYSE:CRM)

RHS Financial LLC purchased a new stake in shares of Salesforce, Inc. (NYSE:CRM) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 808 shares of the CRM provider’s stock, valued at approximately $243,000.

Other large investors also recently made changes to their positions in the company. Bear Mountain Capital Inc. purchased a new position in shares of Salesforce in the fourth quarter worth about $26,000. Signature Resources Capital Management LLC bought a new stake in Salesforce during the fourth quarter valued at approximately $26,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Salesforce in the 4th quarter worth approximately $31,000. Pacifica Partners Inc. lifted 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 worth $33,000 after acquiring an additional 100 shares during the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Salesforce during the 4th quarter valued at $34,000. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CRM. Morgan Stanley reduced their target price on shares of Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. BMO Capital Markets reduced their target price on shares of Salesforce from $335.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 30th. Jefferies Financial Group reduced their target price on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $345.00 target price on shares of Salesforce in a research report on Thursday, May 30th. Finally, Sanford C. Bernstein upped their price target on shares of Salesforce from $231.00 to $234.00 and gave the stock an “underperform” rating in a research note on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Salesforce presently has an average rating of “Moderate Buy” and a consensus price target of $292.79.

Salesforce Stock Performance

NYSE CRM traded down $1.18 during trading hours on Monday, reaching $255.92. The stock had a trading volume of 1,897,031 shares, compared to its average volume of 6,945,346. The stock has a fifty day moving average of $259.79 and a 200 day moving average of $276.47. The stock has a market cap of $247.99 billion, a P/E ratio of 45.92, a price-to-earnings-growth 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 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 issued its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. Sell-side analysts predict that Salesforce, Inc. will post 7.47 earnings per share for the current year.

Salesforce Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a dividend yield of 0.63%. Salesforce’s dividend payout ratio is presently 7.19%.

Insider Transactions at Salesforce

In related news, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total value of $228,265.44. Following the completion of the sale, the insider now owns 22,154 shares in the company, valued at approximately $5,368,357.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, COO Brian Millham sold 1,678 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $242.32, for a total transaction of $406,612.96. Following the transaction, the chief operating officer now directly 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 is accessible through the SEC website. Also, insider Srinivas Tallapragada sold 942 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $242.32, for a total transaction of $228,265.44. Following the transaction, the insider now directly owns 22,154 shares in the company, valued at $5,368,357.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 507,934 shares of company stock worth $139,262,073. 3.20% of the stock is currently owned by insiders.

Salesforce 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.