Clearstead Trust LLC Decreases Stock Holdings in Salesforce, Inc. (NYSE:CRM)

Clearstead Trust LLC trimmed its holdings in Salesforce, Inc. (NYSE:CRM) by 95.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 563 shares of the CRM provider’s stock after selling 11,347 shares during the quarter. Clearstead Trust LLC’s holdings in Salesforce were worth $145,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of CRM. Capital International Investors lifted its stake in Salesforce by 76.4% in the 4th quarter. Capital International Investors now owns 13,708,615 shares of the CRM provider’s stock worth $3,607,493,000 after purchasing an additional 5,935,973 shares in the last quarter. Capital Research Global Investors raised its position in shares of Salesforce by 26.9% during the 1st quarter. Capital Research Global Investors now owns 14,376,536 shares of the CRM provider’s stock valued at $4,329,925,000 after buying an additional 3,044,611 shares during the period. GQG Partners LLC purchased a new stake in shares of Salesforce during the 1st quarter valued at approximately $910,220,000. Swedbank AB purchased a new stake in shares of Salesforce during the 1st quarter valued at approximately $874,748,000. Finally, Coatue Management LLC purchased a new stake in shares of Salesforce during the 4th quarter valued at approximately $564,188,000. 80.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Salesforce

In related news, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $255.78, for a total value of $229,434.66. Following the completion of the sale, the chief financial officer now directly owns 51,109 shares of the company’s stock, valued at $13,072,660.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Srinivas Tallapragada sold 942 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Amy E. Weaver sold 897 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $255.78, for a total transaction of $229,434.66. Following the transaction, the chief financial officer now owns 51,109 shares in the company, valued at $13,072,660.02. The disclosure for this sale can be found here. Insiders sold a total of 62,376 shares of company stock valued at $15,878,005 over the last ninety days. Insiders own 3.20% of the company’s stock.

Salesforce Stock Performance

Shares of CRM stock opened at $256.81 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15. The firm has a fifty day moving average price of $253.55 and a 200 day moving average price of $267.55. The company has a market cap of $248.85 billion, a P/E ratio of 46.19, a PEG ratio of 2.26 and a beta of 1.29. Salesforce, Inc. has a 12 month low of $193.68 and a 12 month high of $318.71.

Salesforce (NYSE:CRM) last announced its quarterly earnings results on Wednesday, August 28th. The CRM provider reported $2.56 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.20. Salesforce had a net margin of 15.44% and a return on equity of 12.01%. The firm had revenue of $9.33 billion during the quarter, compared to analysts’ expectations of $9.22 billion. During the same period in the previous year, the company earned $1.63 earnings per share. Salesforce’s quarterly revenue was up 8.5% compared to the same quarter last year. Sell-side analysts predict that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be given a $0.40 dividend. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 dividend on an annualized basis and a yield of 0.62%. Salesforce’s dividend payout ratio (DPR) is presently 28.78%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Phillip Securities reaffirmed an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Canaccord Genuity Group lifted their price target on shares of Salesforce from $300.00 to $315.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Erste Group Bank reaffirmed a “hold” rating on shares of Salesforce in a research report on Wednesday, September 11th. FBN Securities raised shares of Salesforce to a “strong-buy” rating in a research report on Thursday, August 29th. Finally, TD Cowen lifted their target price on shares of Salesforce from $285.00 to $290.00 and gave the company a “hold” rating in a report on Thursday, August 29th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $305.55.

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.