Salesforce, Inc. (NYSE:CRM) Position Lowered by Arlington Financial Advisors LLC

Arlington Financial Advisors LLC decreased its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 7.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,099 shares of the CRM provider’s stock after selling 1,147 shares during the quarter. Salesforce makes up approximately 1.0% of Arlington Financial Advisors LLC’s holdings, making the stock its 25th biggest holding. Arlington Financial Advisors LLC’s holdings in Salesforce were worth $4,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors raised its stake in Salesforce by 2.4% during the fourth quarter. Capital World Investors now owns 19,561,325 shares of the CRM provider’s stock worth $5,147,402,000 after acquiring an additional 457,463 shares during the period. Fisher Asset Management LLC increased its stake in shares of Salesforce by 5.3% in the fourth quarter. Fisher Asset Management LLC now owns 14,921,042 shares of the CRM provider’s stock valued at $3,926,323,000 after purchasing an additional 752,566 shares during the period. Capital International Investors increased its stake in shares of Salesforce by 76.4% in the fourth quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock valued at $3,607,493,000 after purchasing an additional 5,935,973 shares during the period. Norges Bank acquired a new stake in shares of Salesforce in the fourth quarter valued at approximately $2,762,331,000. Finally, Parnassus Investments LLC increased its stake in shares of Salesforce by 0.3% in the fourth quarter. Parnassus Investments LLC now owns 5,951,415 shares of the CRM provider’s stock valued at $1,566,055,000 after purchasing an additional 18,397 shares during the period. Institutional investors and hedge funds own 80.43% of the company’s stock.

Insiders Place Their Bets

In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the sale, the chief accounting officer now directly owns 5,856 shares in the company, valued at approximately $1,599,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Marc Benioff sold 15,000 shares of Salesforce stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $301.72, for a total transaction of $4,525,800.00. Following the sale, the chief executive officer now directly owns 13,011,166 shares in the company, valued at approximately $3,925,729,005.52. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Sundeep G. Reddy sold 2,425 shares of Salesforce stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total transaction of $662,388.75. Following the sale, the chief accounting officer now owns 5,856 shares in the company, valued at $1,599,566.40. The disclosure for this sale can be found here. Insiders have sold 547,387 shares of company stock worth $151,174,635 in the last ninety days. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

CRM has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, May 30th. Jefferies Financial Group decreased their price objective on shares of Salesforce from $360.00 to $350.00 and set a “buy” rating for the company in a report on Thursday, May 30th. Evercore ISI decreased their price objective on shares of Salesforce from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. Wells Fargo & Company decreased their price objective on shares of Salesforce from $300.00 to $250.00 and set an “equal weight” rating for the company in a report on Thursday, May 30th. Finally, Robert W. Baird decreased their price objective on shares of Salesforce from $355.00 to $295.00 and set an “outperform” rating for the company in a report on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $292.79.

Salesforce Stock Performance

CRM traded up $4.25 during trading on Friday, hitting $257.10. The stock had a trading volume of 12,619,303 shares, compared to its average volume of 11,223,949. The firm has a market cap of $249.13 billion, a PE ratio of 46.24, a P/E/G ratio of 2.26 and a beta of 1.25. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.14. The company has a 50 day simple moving average of $259.79 and a 200-day simple moving average of $276.47.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping the consensus estimate of $2.38 by $0.06. The firm had revenue of $9.13 billion for the quarter, compared to the consensus estimate of $9.15 billion. Salesforce had a net margin of 15.30% and a return on equity of 11.57%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 EPS. Analysts expect that Salesforce, Inc. will post 7.47 EPS for the current year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 25th. Shareholders of record on Tuesday, July 9th will be given a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio is 7.19%.

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.