GHP Investment Advisors Inc. Sells 71 Shares of Salesforce Inc. (NYSE:CRM)

GHP Investment Advisors Inc. cut its position in Salesforce Inc. (NYSE:CRMFree Report) by 30.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 164 shares of the CRM provider’s stock after selling 71 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Salesforce were worth $44,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its position in Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock worth $8,582,000 after buying an additional 3,102 shares in the last quarter. Revolve Wealth Partners LLC raised its stake in shares of Salesforce by 12.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock worth $611,000 after acquiring an additional 205 shares during the last quarter. Advisor OS LLC lifted its position in shares of Salesforce by 47.9% during the fourth quarter. Advisor OS LLC now owns 2,266 shares of the CRM provider’s stock worth $758,000 after purchasing an additional 734 shares in the last quarter. Bryn Mawr Capital Management LLC grew its stake in shares of Salesforce by 16.2% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 7,403 shares of the CRM provider’s stock valued at $2,475,000 after purchasing an additional 1,030 shares during the last quarter. Finally, NewEdge Wealth LLC increased its holdings in shares of Salesforce by 1.6% in the fourth quarter. NewEdge Wealth LLC now owns 214,325 shares of the CRM provider’s stock valued at $71,655,000 after purchasing an additional 3,351 shares in the last quarter. 80.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Stifel Nicolaus reduced their price objective on Salesforce from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Loop Capital dropped their target price on Salesforce from $330.00 to $300.00 and set a “hold” rating for the company in a research report on Thursday, February 27th. Stephens decreased their price target on Salesforce from $311.00 to $309.00 and set an “equal weight” rating on the stock in a report on Friday, May 30th. Bank of America dropped their price objective on Salesforce from $440.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, BMO Capital Markets cut their target price on shares of Salesforce from $367.00 to $350.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-eight have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $349.08.

Read Our Latest Stock Analysis on Salesforce

Salesforce Stock Performance

Shares of CRM stock opened at $270.50 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.07 and a current ratio of 1.07. Salesforce Inc. has a 52 week low of $230.00 and a 52 week high of $369.00. The company’s 50 day moving average price is $269.86 and its two-hundred day moving average price is $295.19. The company has a market capitalization of $258.60 billion, a P/E ratio of 42.33, a price-to-earnings-growth ratio of 2.43 and a beta of 1.38.

Salesforce (NYSE:CRMGet Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.55 by $0.03. The company had revenue of $9.83 billion during the quarter, compared to the consensus estimate of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The firm’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. On average, analysts expect that Salesforce Inc. will post 7.46 earnings per share for the current fiscal year.

Salesforce Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th will be paid a $0.416 dividend. This represents a $1.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date is Wednesday, June 18th. Salesforce’s dividend payout ratio is 25.98%.

Insider Activity

In related news, insider Miguel Milano sold 405 shares of the firm’s stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total value of $106,251.75. Following the completion of the transaction, the insider now owns 9,933 shares of the company’s stock, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian Millham sold 979 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The stock was sold at an average price of $253.66, for a total transaction of $248,333.14. Following the sale, the chief executive officer now directly owns 6,487 shares in the company, valued at $1,645,492.42. This trade represents a 13.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,284 shares of company stock worth $6,996,762 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Salesforce Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Salesforce (NYSE:CRM)

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