Salesforce, Inc. (NYSE:CRM) Shares Sold by ICA Group Wealth Management LLC

ICA Group Wealth Management LLC trimmed its position in shares of Salesforce, Inc. (NYSE:CRM) by 91.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122 shares of the CRM provider’s stock after selling 1,288 shares during the period. ICA Group Wealth Management LLC’s holdings in Salesforce were worth $31,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CRM. Ruedi Wealth Management Inc. raised its holdings in shares of Salesforce by 186.7% in the 1st quarter. Ruedi Wealth Management Inc. now owns 86 shares of the CRM provider’s stock worth $26,000 after purchasing an additional 56 shares during the period. Piscataqua Savings Bank raised its holdings 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 buying an additional 96 shares during the period. Clear Investment Research LLC raised its holdings in Salesforce by 816.7% in the second quarter. Clear Investment Research LLC now owns 110 shares of the CRM provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Red Tortoise LLC acquired a new position in Salesforce during the first quarter valued at approximately $33,000. Finally, Stephens Consulting LLC grew its stake in Salesforce by 3,125.0% during the second quarter. Stephens Consulting LLC now owns 129 shares of the CRM provider’s stock worth $33,000 after buying an additional 125 shares during the period. 80.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on CRM shares. Macquarie reduced their target price on shares of Salesforce from $330.00 to $275.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Erste Group Bank restated a “hold” rating on shares of Salesforce in a research note on Wednesday, September 11th. Stifel Nicolaus increased their target price on Salesforce from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Phillip Securities reissued an “accumulate” rating and set a $305.00 price target on shares of Salesforce in a research report on Friday, August 30th. Finally, Canaccord Genuity Group increased their price objective 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. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, Salesforce currently has an average rating of “Moderate Buy” and a consensus price target of $305.55.

Salesforce Stock Up 0.9 %

CRM stock opened at $256.81 on Tuesday. The firm’s 50-day moving average is $253.55 and its two-hundred day moving average is $267.55. The company has a market capitalization of $248.85 billion, a price-to-earnings ratio of 46.19, 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 current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.15.

Salesforce (NYSE:CRM) last announced its earnings results on Wednesday, August 28th. The CRM provider reported $2.56 EPS for the quarter, topping the consensus estimate of $2.36 by $0.20. The firm had revenue of $9.33 billion for 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%. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 earnings per share. On average, analysts forecast that Salesforce, Inc. will post 7.55 earnings per share for the current fiscal year.

Salesforce Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 18th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 18th. This represents a $1.60 annualized dividend and a yield of 0.62%. Salesforce’s dividend payout ratio is currently 28.78%.

Insider Buying and Selling

In other Salesforce news, insider Parker Harris sold 4,200 shares of the company’s stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $262.97, for a total value of $1,104,474.00. Following the completion of the sale, the insider now directly owns 117,581 shares of the company’s stock, valued at approximately $30,920,275.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Parker Harris sold 4,200 shares of the stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $262.97, for a total transaction of $1,104,474.00. Following the completion of the sale, the insider now owns 117,581 shares in the company, valued at approximately $30,920,275.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sabastian Niles sold 2,484 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $244.81, for a total value of $608,108.04. Following the sale, the insider now directly owns 828 shares of the company’s stock, valued at $202,702.68. The disclosure for this sale can be found here. Insiders have sold a total of 62,376 shares of company stock valued at $15,878,005 over the last three months. Company insiders own 3.20% of the company’s stock.

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.