Cable Hill Partners LLC Sells 81 Shares of Salesforce Inc. (NYSE:CRM)

Cable Hill Partners LLC lessened its stake in Salesforce Inc. (NYSE:CRM) by 0.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,400 shares of the CRM provider’s stock after selling 81 shares during the period. Salesforce accounts for 0.3% of Cable Hill Partners LLC’s portfolio, making the stock its 22nd largest holding. Cable Hill Partners LLC’s holdings in Salesforce were worth $2,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of CRM. Brighton Jones LLC raised its position in shares of Salesforce by 13.7% during the 4th quarter. Brighton Jones LLC now owns 25,668 shares of the CRM provider’s stock valued at $8,582,000 after acquiring an additional 3,102 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Salesforce by 12.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,827 shares of the CRM provider’s stock valued at $611,000 after acquiring an additional 205 shares during the last quarter. Proficio Capital Partners LLC raised its position in shares of Salesforce by 70.4% during the 4th quarter. Proficio Capital Partners LLC now owns 2,791 shares of the CRM provider’s stock valued at $933,000 after acquiring an additional 1,153 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Salesforce by 9.7% during the 4th quarter. Harbour Investments Inc. now owns 3,407 shares of the CRM provider’s stock valued at $1,139,000 after acquiring an additional 300 shares during the last quarter. Finally, BlackDiamond Wealth Management LLC raised its position in shares of Salesforce by 14.7% during the 4th quarter. BlackDiamond Wealth Management LLC now owns 1,346 shares of the CRM provider’s stock valued at $450,000 after acquiring an additional 172 shares during the last quarter. Institutional investors own 80.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Erste Group Bank cut shares of Salesforce from a “buy” rating to a “hold” rating in a research report on Thursday, June 5th. Morgan Stanley reissued an “overweight” rating and issued a $404.00 price target (up previously from $393.00) on shares of Salesforce in a report on Thursday, May 29th. Stephens decreased their price target on shares of Salesforce from $311.00 to $309.00 and set an “equal weight” rating for the company in a report on Friday, May 30th. UBS Group set a $404.00 price target on shares of Salesforce and gave the company an “overweight” rating in a report on Wednesday, June 18th. Finally, The Goldman Sachs Group boosted their price target on shares of Salesforce from $340.00 to $385.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, twenty-seven have given a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, Salesforce has an average rating of “Moderate Buy” and an average price target of $348.16.

Salesforce Stock Down 0.8%

Shares of CRM stock opened at $257.64 on Wednesday. The stock has a market cap of $246.31 billion, a price-to-earnings ratio of 40.32, a PEG ratio of 2.35 and a beta of 1.36. 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 firm’s 50-day moving average is $271.51 and its 200-day moving average is $287.73.

Salesforce (NYSE:CRM) last released its quarterly earnings results on Wednesday, May 28th. The CRM provider reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.03. The firm had revenue of $9.83 billion for the quarter, compared to analysts’ expectations of $9.74 billion. Salesforce had a net margin of 16.08% and a return on equity of 12.94%. The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm earned $2.44 EPS. Sell-side analysts predict that Salesforce Inc. will post 7.46 EPS for the current year.

Salesforce Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 10th. Shareholders of record on Wednesday, June 18th were given a dividend of $0.416 per share. The ex-dividend date was Wednesday, June 18th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 0.65%. Salesforce’s payout ratio is presently 25.98%.

Insider Buying and Selling at Salesforce

In related news, insider Miguel Milano sold 405 shares of the stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $262.35, for a total transaction of $106,251.75. Following the sale, the insider owned 9,933 shares in the company, valued at approximately $2,605,922.55. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Sundeep G. Reddy sold 261 shares of the stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $262.35, for a total transaction of $68,473.35. Following the sale, the chief accounting officer owned 12,024 shares in the company, valued at $3,154,496.40. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,569 shares of company stock worth $8,533,528 in 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.