Salesforce, Inc. (NYSE:CRM) Stake Lowered by FDx Advisors Inc.

FDx Advisors Inc. trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 93.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,405 shares of the CRM provider’s stock after selling 20,195 shares during the period. FDx Advisors Inc.’s holdings in Salesforce were worth $361,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of CRM. Ruedi Wealth Management Inc. lifted its holdings in shares of Salesforce by 186.7% during the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Piscataqua Savings Bank lifted its stake in Salesforce by 2,400.0% in the second quarter. Piscataqua Savings Bank now owns 100 shares of the CRM provider’s stock valued at $26,000 after acquiring an additional 96 shares during the last quarter. Red Tortoise LLC bought a new stake in Salesforce in the first quarter worth approximately $33,000. Stephens Consulting LLC increased its stake in shares of Salesforce by 3,125.0% during the 2nd 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 last quarter. Finally, Creekmur Asset Management LLC bought a new position in shares of Salesforce during the 4th quarter valued at $35,000. Institutional investors and hedge funds own 80.43% of the company’s stock.

Analyst Upgrades and Downgrades

CRM has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Stifel Nicolaus upped their price target on Salesforce from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Morgan Stanley raised their price objective on Salesforce from $320.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, August 29th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $300.00 target price on shares of Salesforce in a research report on Thursday, August 29th. Finally, FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Eight research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $304.41.

Insider Buying and Selling

In other Salesforce news, CEO Marc Benioff sold 15,000 shares of the company’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $2,940,152,355.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Marc Benioff sold 15,000 shares of the stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $241.74, for a total transaction of $3,626,100.00. Following the sale, the chief executive officer now directly owns 12,162,457 shares of the company’s stock, valued at $2,940,152,355.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Sundeep G. Reddy sold 413 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $105,637.14. Following the completion of the transaction, the chief accounting officer now owns 6,431 shares of the company’s stock, valued at approximately $1,644,921.18. The disclosure for this sale can be found here. Insiders sold 83,692 shares of company stock worth $21,006,957 in the last quarter. 3.20% of the stock is owned by corporate insiders.

Salesforce Stock Performance

NYSE:CRM opened at $246.16 on Friday. The firm has a market capitalization of $238.53 billion, a PE ratio of 44.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.29. The company has a quick ratio of 1.11, a current ratio of 1.04 and a debt-to-equity ratio of 0.15. Salesforce, Inc. has a 12-month low of $193.68 and a 12-month high of $318.71. The firm has a 50-day moving average price of $254.78 and a 200 day moving average price of $270.11.

Salesforce (NYSE:CRM) last issued 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. The business had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. Salesforce had a return on equity of 12.01% and a net margin of 15.44%. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.63 EPS. Research analysts anticipate that Salesforce, Inc. will post 7.52 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 25th. Stockholders of record on Tuesday, July 9th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Tuesday, July 9th. Salesforce’s payout ratio is 28.78%.

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.