Salesforce, Inc. (NYSE:CRM) Shares Sold by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. lessened its holdings in shares of Salesforce, Inc. (NYSE:CRM) by 17.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,120 shares of the CRM provider’s stock after selling 245 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Salesforce were worth $337,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its position in shares of Salesforce by 8.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 523,681 shares of the CRM provider’s stock valued at $157,722,000 after buying an additional 40,563 shares in the last quarter. WESPAC Advisors SoCal LLC raised its stake in Salesforce by 12.3% in the 1st quarter. WESPAC Advisors SoCal LLC now owns 2,657 shares of the CRM provider’s stock valued at $800,000 after purchasing an additional 290 shares during the last quarter. Congress Wealth Management LLC DE lifted its holdings in Salesforce by 655.8% in the 1st quarter. Congress Wealth Management LLC DE now owns 48,608 shares of the CRM provider’s stock valued at $14,640,000 after purchasing an additional 42,177 shares in the last quarter. Consilio Wealth Advisors LLC boosted its stake in shares of Salesforce by 7.6% during the 1st quarter. Consilio Wealth Advisors LLC now owns 964 shares of the CRM provider’s stock worth $290,000 after purchasing an additional 68 shares during the last quarter. Finally, Claro Advisors LLC grew its holdings in shares of Salesforce by 4.9% during the first quarter. Claro Advisors LLC now owns 4,092 shares of the CRM provider’s stock worth $1,232,000 after buying an additional 192 shares in the last quarter. 80.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CRM has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Salesforce from $310.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. DA Davidson lowered their price objective on Salesforce from $300.00 to $230.00 and set a “neutral” rating for the company in a research report on Thursday, May 30th. Morgan Stanley reduced their target price on Salesforce from $350.00 to $320.00 and set an “overweight” rating on the stock in a research report on Thursday, May 30th. Raymond James restated a “strong-buy” rating and issued a $325.00 price target (down previously from $380.00) on shares of Salesforce in a report on Thursday, May 30th. Finally, Canaccord Genuity Group decreased their target price on shares of Salesforce from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $292.79.

Insider Buying and Selling at Salesforce

In other news, COO Brian Millham sold 2,018 shares of Salesforce stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $260.00, for a total value of $524,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Salesforce news, CAO Sundeep G. Reddy sold 2,425 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $273.15, for a total value of $662,388.75. Following the completion of the sale, the chief accounting officer now directly owns 5,856 shares of the company’s stock, valued at approximately $1,599,566.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Brian Millham sold 2,018 shares of Salesforce stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $260.00, for a total transaction of $524,680.00. The disclosure for this sale can be found here. Insiders sold a total of 509,952 shares of company stock worth $139,786,753 over the last 90 days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Up 0.1 %

CRM stock traded up $0.34 during mid-day trading on Tuesday, hitting $256.55. 2,255,133 shares of the company were exchanged, compared to its average volume of 6,938,841. The firm has a fifty day simple moving average of $259.79 and a 200 day simple moving average of $276.47. The company has a market capitalization of $248.60 billion, a PE ratio of 45.90, a price-to-earnings-growth ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a twelve month low of $193.68 and a twelve 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.

Salesforce (NYSE:CRM) last posted its quarterly earnings results on Wednesday, May 29th. The CRM provider reported $2.44 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.06. Salesforce had a return on equity of 11.57% and a net margin of 15.30%. The business had revenue of $9.13 billion during the quarter, compared to the consensus estimate of $9.15 billion. During the same period last year, the firm earned $1.15 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts forecast that Salesforce, Inc. will post 7.47 earnings per share for the current fiscal year.

Salesforce Announces Dividend

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

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.